WORK Medical Technology Group LTD Announces Strategic Partnership with Shanghai Chartwell Medical Device Co., Ltd.
Hangzhou, China, Feb. 28, 2025 – WORK Medical Technology Group LTD (Nasdaq: WOK), a leading supplier of medical devices, has announced a strategic partnership with Shanghai Chartwell Medical Device Co., Ltd., a high-end medical products manufacturer. The collaboration aims to drive industrial synergy and accelerate growth in the healthcare sector through 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.
The partnership is expected to address several key initiatives, including establishing joint investment funds, potential investment or merger between WORK Medical and Chartwell Medical, and co-investing in future projects such as healthcare infrastructure, research and development of advanced technology, and global acquisitions.
Mr. Wu Shuang, CEO and Chairman of WORK Medical, commented, “We are delighted to enter into this strategic partnership with Chartwell Medical, reflecting our shared commitment to mutual growth and innovation. By leveraging our combined strengths and resources, we aim to enhance operational efficiency, market leadership, and international competitiveness.”
The collaboration is expected to enrich WORK Medical’s product portfolio, increase the proportion of high-value-added products, and drive substantial growth in revenue and profits over the next three years. Together, they aim to foster a robust ecosystem with industry partners across China’s healthcare value chain.
About WORK Medical Technology Group LTD
WORK Medical Technology Group LTD is a supplier of medical devices that develops, manufactures, and sells Class I and II medical devices through its subsidiaries in China. The company has a diverse product portfolio comprising 21 products, including customized masks and other medical consumables, sold in 34 provincial-level administrative regions in China and 15 products sold in over 30 countries worldwide.
About Shanghai Chartwell Medical Device Co., Ltd.
Shanghai Chartwell Medical Device Co., Ltd. is a supplier, developer, manufacturer, and service provider of high-end medical devices and consumables, serving China and the Asia-Pacific region. It offers a diverse portfolio across multiple categories, including nuclear medicine, radiology, and ophthalmology, and holds exclusive agency rights for several leading high-end medical brands from Japan.
Forward-Looking Statements
This press release contains forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those set forth in or implied by such forward-looking statements. WORK Medical cautions investors to review other factors that may affect its future results as set forth in the Company’s annual report on Form 20-F and other documents filed with the SEC.
