WORK Medical and Chartwell Medical Announce Strategic Partnership
Hangzhou, China, February 28, 2025 – WORK Medical Technology Group LTD (Nasdaq: WOK) announced a strategic partnership with Shanghai Chartwell Medical Device Co., Ltd. to propel growth in the healthcare sector. The collaboration, announced via GlobeNewswire, aims to leverage each company’s strengths and resources.
Mr. Wu Shuang, CEO and Chairman of WORK Medical, stated that the partnership reflects a shared ambition for mutual growth and innovation. The partnership is designed to establish joint investment funds, explore WORK Medical’s investment in or potential merger with Chartwell Medical, and co-invest in key projects, including healthcare infrastructure and advanced technology R&D.
WORK Medical, through its Chinese subsidiary Work (Hangzhou) Medical Treatment Equipment Co., Ltd., will work with Chartwell Medical’s subsidiaries, including Fuluo (Shanghai) Medical Equipment Co., Ltd., Fuying (Shanghai) Medical Equipment Co., Ltd. and Fufeng (Suzhou) Medical Treatment Technology Co., Ltd. Fuying is a joint venture between Chartwell Medical and Sakura Seiki Co., Ltd. Fufeng specializes in the sales of medical rehabilitation devices co-developed by Chartwell Medical, Toyota Motor Corporation and Toyota Tsusho Corporation.
WORK Medical aims to increase high-value-added products as specific cooperation projects with Chartwell Medical are implemented. They also anticipate substantial revenue and profit growth over the next three years through this partnership.
WORK Medical Technology Group LTD is a supplier of medical devices that develops and manufactures medical devices in China. The company’s diverse product portfolio includes 21 products, sold in 34 Chinese provinces and 30 countries worldwide. The company also has 17 products registered with the U.S. Food and Drug Administration.
Shanghai Chartwell Medical Device Co., Ltd. is a specialist in high-end medical devices and consumables, serving China and the Asia-Pacific region. The company offers various products spanning nuclear medicine, radiology, imaging, endoscopy, infection control, ophthalmology, and regenerative bone technologies. They also hold exclusive agency rights for leading medical brands from Japan.
The original press release included forward-looking statements subject to risks and uncertainties; investors are advised to review the company’s SEC filings for more detail. The company has listed email addresses for investor relations and contact information for Ascent Investor Relations LLC.
Logo of WORK Medical Technology Group LTD.
