Medical device company taps into 1.4 billion-person market with deal in China
Boca Raton medical device maker Sensus Healthcare has been cleared to expand operations in China, bringing its skin-treatment technology to a country with more than 1.4 billion people.
Sensus Healthcare (NASDAQ: SRTS) has made a name for itself in the medical community with the SRT-100, a device sold to dermatology practices which non-invasively treats skin conditions, including keloids, a type of benign fibrous tissue formed at the area of scars or injury to the skin.
Scientists have found that keloids appear most frequently among those of African, Latin and Asian descent. Since China relaxed its one-child policy two years ago, the incidence of keloids has increased due to the prevalence of Cesarean section births. The delivery procedure is known to cause scarring.
Sensus will partner with Chindex Medical Limited, a wholly owned subsidiary of Shanghai-based Fosun Pharma International, which already sold the device in China almost exclusively for treatment of non-melanoma skin cancer.
“CFDA clearance of the SRT-100 for the treatment and prevention of keloids is an important milestone for Sensus, and a step forward for healthcare in China, especially women’s health,” said Sensus CEO Joe Sardano.
Founded in 2010, Sensus went public in the summer of 2016, with shares trading on the Nasdaq Capital Market under the ticker SRTS. The company has a market capitalization of about $59 million. Last year, the company booked revenue of more than $14 million, a 44 percent uptick compared to revenue generated in 2015.
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