Hoya Group’s division Pentax Medical has formed a joint venture with Chinese firm Shanghai Aohua Photoelectricity Endoscope for the development of novel endoscopic solutions.
Based in Asia, the new Pentax-Aohua Medical Technologies will engage in the development of advanced product solution in the field of flexible medical endoscopy.
Focusing primarily on emerging markets, the new company will provide endoscopy solutions for customers across the globe.
Pentax Medical global president Gerald Bottero said: "Now Pentax Medical along with AOHUA looks forward to offering endoscopy solutions in the emerging countries all over the world."
The new company will develop, produce and market the products in emerging markets in Asia, Latin America Eastern Europe, Middle East and Africa.
According to Pentax Medical, the flexible endoscopy is approximately a $2.5bn market and witnessing a growth rate of around 5% per annum.
Hoya corporate development global head and chief legal officer Augustine Yee said: “This collaboration brings together combined strengths of Pentax Medical’s global infrastructure and the capabilities and knowledge of the leading endoscope company in China.”
Earlier this year, Pentax Medical acquired US firm C2 Therapeutics, which is engaged in the development and commercialization of CryoBalloon ablation technology.
The CryoBalloon system has been developed for the endoscopic ablation of unwanted tissue such as Barrett’s esophagus.
Based in Japan, Pentax Medical offers endoscopic imaging devices and solutions to the customers across the globe.
Aohua provides endoscopic solutions ranging from gastrointestinal endoscopes, reprocessing systems to endoscopic accessories.
Image: PENTAX head office in Tokyo. Photo: courtesy of Kamemaru2000.