Shanghai, China (Dec 15): PCCS Group Bhd (PCCS) and China's Shanghai Shenqi  Medical Co, Ltd (Shenqi) today announced the signing of a memorandum of  understanding (MoU) to cooperatively pursue healthcare business opportunities within Asia-Pacific. The partnership is intended to develop the commercialisation of cardiology-related medical device technologies by leveraging the strengths of both companies: Shenqi's capability in developing innovative medical devices complements PCCS's capabilities, experience and reach within the Asia-Pacific market. This cooperation will also enable PCCS to strategically position itself in the medical and healthcare sectors.

"As a hi-tech medical device enterprise, we have been focusing on the research of high-value medical consumables since our establishment. We sincerely hope that more patients with cardiovascular diseases will benefit from the innovative products developed by Shenqi. In August this year, we also completed a series C financing of several hundred million yuan to further develop and market our existing products," said Dai ZhiHao, spokesperson of Shenqi. "PCCS has been profoundly involved with conducting businesses within the Asia-Pacific region for many years … Therefore, having a profound understanding and strong influence over many different market segments within the Asia-Pacific region. With the help of its market influence, we hope to  promote our overseas market layout through its contacts, channels, public relations,  mature management team and market penetration, so that the medical technology  'created in China' will go abroad and benefit the patient groups in the Asia-Pacific region and even other regions."

"In recent years, China's medical and health technology has been developing rapidly. We are very optimistic about its rapidly evolving scientific research capabilities and have been looking for exceptional business partners. Shenqi's corporate core values, strong product development and innovation strength matches our corporate development philosophy and strategic designs. We are honoured to have such an in-depth cooperation with Shenqi to help expand their product application market," Chan Wee Kiang, spokesperson of PCCS, said at the signing ceremony. "As a diversified international trading and investment company, PCCS hopes to create a better world through investment. We are also exceptionally honoured to be a bridge for the trades between China and the Asia-Pacific region, and to also support Chinese companies to further explore and achieve mutual benefits, obtaining a win-win situation."

This cooperation is the first step taken by PCCS to venture into the medical and healthcare industry, and to also initiate a long-term strategic cooperation with Shenqi. In the future, the two parties will delve deeper into the medical and healthcare field to undertake more diversified and in-depth cooperation.

Investors can refer to PCCS's Bursa Announcement for further information.