genae, a global CRO and service provider for the medical industries, announced the closing of an investment in Meditrix. The clinical research group further obtained a call option to acquire all remaining shares of Meditrix.
The global market for medical device technologies is expected to reach USD 642 billion by the end of 2020, and Japan is one of the largest markets in this domain, behind the US and Europe.
"While Japan represents a key market for the medical industries, it is a complex system for foreign med-tech companies to penetrate" said Bart Segers, genae's CEO. "Having a clear understanding of the regulatory and market hurdles is critical to decrease time and cost to market, and to avoid hazardous strategies for our customers".
"Medical therapeutics and the medical device industries in Japan will benefit from the strategic partnership between genae and Meditrix," according to Ichiro Oshiba, president of Meditrix. "This collaboration will accelerate the much-required adoption of sophisticated medical technologies that are being developed outside Japan", he continued. "In addition, it presents a unique window for the promotion of the Japanese medtech industries".
With this investment, genae further expands its activities in Japan and in the Asia Pacific region.