Vincent Medical Holdings Limited (“Vincent Medical” or together with its subsidiaries, the “Group”, stock code: 1612) announces that the Group is further increasing its production capacity of Inspired® heated humidifier (VHB200), O2FLO Respiratory Unit and a wide range of disposables products (respiratory filters, ventilation circuits and chambers) to support the surging demand for essential respiratory medical devices and disposables in Europe and the US (in addition to that in the PRC) in fighting the coronavirus pandemic.
In addition to increasing the supply of its inspiredTM respiratory products and submitting tender to various European countries for its products, as an OEM (“Original Equipment Manufacturing”) partner for a number of key global ventilator companies, the Group is also working closely with them to rapidly scale up the production of ventilation circuits, respiratory filters and other disposable products for the PRC and the global markets. The sudden shortage of ventilators to meet global demands is echoed by the fact that Ventec Life Systems, Inc., a US-based life-support multi-functional ventilator company that the Group has been supplying a series of disposable circuits and accessories since 2017, is increasing its production of the VOCSN ventilator with the support from the US government and General Motors in response to the huge shortage of hospital-grade ventilators in the US. The Group is also ramping up the manufacturing of Ventway Sparrow, an ultra-light weight portable ventilator for use in emergency and transport medicine.
To guarantee product quality as well as employee’s safety, the Group has implemented additional measures at its production facilities in the PRC in order to ensure a safe working environment for its over 1,200 employees. The Group has carried out extensive work in coordinating with the local government to ensure the health and safety of its employees while maintaining the necessary delivery capability for its products.
Mr. Vincent Choi, Chairman of Vincent Medical, said, “The situation evolves very quickly and our team is closely monitoring the developments of the pandemic, while maintaining an active communication with all our partners and customers to offer our products and services at the most efficient manner. As the global supply of ventilator is running short, attention has also switched to high flow oxygen therapy which is being used in treating the less severe COVID-19 patients. We are building stock for our O2FLO and O2B devices as we expect to see continued increase in demand for high flow oxygen therapy.” “I deeply appreciate the dedicated effort from our employees, who have been working endlessly since January striving to ramp up our manufacturing output and replenish safety stock in spite of the disruption on raw material supply chain. We will continue to fulfill our responsibility as a manufacturer of essential medical device by offering products to those who are in need.” Mr. Choi concluded. Vincent Medical is closely monitoring the situation and will keep the market informed of any significant developments in its business.
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