JRI Orthopaedics, the Sheffield-based healthcare company, has strengthened its position in China and the Far East with after securing a new multi-million pound deal.
Last year, the company signed a £4m sub-manufacturing contract with China’s largest domestic orthopaedic producer, AK Medical. The three-year deal means Chinese designed hip implants are being manufactured in JRI’s Sheffield plant to then be sold in China.
JRI Orthopaedics has now secured regulatory approval to sell its own cemented, uncemented and revision hip product portfolio in China and has signed an exclusive distribution deal with Beijing-based AK Medical.
Entry into the Chinese market is expected to result in the company selling a minimum of 10,000 hip implants in China over the next five years.
Keith Jackson, JRI Orthopaedics chief executive, said: “China has a population of 1.3 billion but currently only 250 million people have access to a hip replacement. The potential is huge and we see this as a significant market for the company.