WORK Medical Technology Group LTD Announces Strategic Partnership with Shanghai Chartwell Medical Device Co., Ltd.
WORK Medical Technology Group (WOK) has announced a strategic partnership with Shanghai Chartwell Medical Device Co. through its subsidiary Work (Hangzhou) Medical Treatment Equipment Co. The collaboration involves Chartwell's subsidiaries including Fuluo, Fuying (a joint venture with Sakura Seiki), and Fufeng (involved in medical rehabilitation devices with Toyota).
The partnership initiatives include:
- Establishing joint investment funds
- Potential investment or merger of Chartwell into WORK Medical
- Co-investment in healthcare infrastructure, R&D, and global acquisitions
CEO Wu Shuang expects this collaboration to enhance operational efficiency, market leadership, and international competitiveness. The company anticipates substantial revenue and profit growth over the next three years, along with an increased proportion of high-value-added products.
WORK Medical Technology Group (WOK) ha annunciato una partnership strategica con Shanghai Chartwell Medical Device Co. attraverso la sua sussidiaria Work (Hangzhou) Medical Treatment Equipment Co. La collaborazione coinvolge le sussidiarie di Chartwell, tra cui Fuluo, Fuying (una joint venture con Sakura Seiki) e Fufeng (che si occupa di dispositivi di riabilitazione medica con Toyota).
Le iniziative della partnership includono:
- Creazione di fondi di investimento congiunti
- Possibile investimento o fusione di Chartwell in WORK Medical
- Co-investimento in infrastrutture sanitarie, R&S e acquisizioni globali
Il CEO Wu Shuang si aspetta che questa collaborazione migliori l'efficienza operativa, la leadership di mercato e la competitività internazionale. L'azienda prevede una crescita sostanziale dei ricavi e dei profitti nei prossimi tre anni, insieme a un aumento della proporzione di prodotti ad alto valore aggiunto.
WORK Medical Technology Group (WOK) ha anunciado una asociación estratégica con Shanghai Chartwell Medical Device Co. a través de su subsidiaria Work (Hangzhou) Medical Treatment Equipment Co. La colaboración involucra a las subsidiarias de Chartwell, incluyendo Fuluo, Fuying (una empresa conjunta con Sakura Seiki) y Fufeng (involucrada en dispositivos de rehabilitación médica con Toyota).
Las iniciativas de la asociación incluyen:
- Establecimiento de fondos de inversión conjuntos
- Posible inversión o fusión de Chartwell en WORK Medical
- Co-inversión en infraestructura de salud, I+D y adquisiciones globales
El CEO Wu Shuang espera que esta colaboración mejore la eficiencia operativa, el liderazgo en el mercado y la competitividad internacional. La empresa anticipa un crecimiento sustancial de ingresos y beneficios en los próximos tres años, junto con un aumento en la proporción de productos de alto valor añadido.
WORK Medical Technology Group (WOK)는 Shanghai Chartwell Medical Device Co.와 전략적 파트너십을 발표했습니다. 이 파트너십은 Work (Hangzhou) Medical Treatment Equipment Co.의 자회사를 통해 이루어집니다. 협력에는 Chartwell의 자회사인 Fuluo, Fuying (Sakura Seiki와의 합작 투자) 및 Fufeng (Toyota와 함께 의료 재활 장치에 관여) 등이 포함됩니다.
파트너십의 이니셔티브에는 다음이 포함됩니다:
- 공동 투자 펀드 설립
- Chartwell의 WORK Medical에 대한 잠재적 투자 또는 합병
- 의료 인프라, 연구 개발 및 글로벌 인수에 대한 공동 투자
CEO Wu Shuang은 이 협력이 운영 효율성, 시장 리더십 및 국제 경쟁력을 향상시킬 것으로 기대하고 있습니다. 회사는 향후 3년 동안 상당한 수익 및 이익 성장을 예상하며, 고부가가치 제품의 비율도 증가할 것으로 보입니다.
WORK Medical Technology Group (WOK) a annoncé un partenariat stratégique avec Shanghai Chartwell Medical Device Co. par le biais de sa filiale Work (Hangzhou) Medical Treatment Equipment Co. La collaboration implique les filiales de Chartwell, y compris Fuluo, Fuying (une coentreprise avec Sakura Seiki) et Fufeng (impliquée dans des dispositifs de réhabilitation médicale avec Toyota).
Les initiatives du partenariat comprennent :
- Établissement de fonds d'investissement conjoints
- Investissement potentiel ou fusion de Chartwell dans WORK Medical
- Co-investissement dans les infrastructures de santé, la R&D et les acquisitions mondiales
Le PDG Wu Shuang s'attend à ce que cette collaboration améliore l'efficacité opérationnelle, le leadership sur le marché et la compétitivité internationale. L'entreprise anticipe une croissance substantielle des revenus et des bénéfices au cours des trois prochaines années, ainsi qu'une augmentation de la proportion de produits à forte valeur ajoutée.
WORK Medical Technology Group (WOK) hat eine strategische Partnerschaft mit Shanghai Chartwell Medical Device Co. über ihre Tochtergesellschaft Work (Hangzhou) Medical Treatment Equipment Co. bekannt gegeben. Die Zusammenarbeit umfasst die Tochtergesellschaften von Chartwell, darunter Fuluo, Fuying (ein Joint Venture mit Sakura Seiki) und Fufeng (die sich mit medizinischen Rehabilitationsgeräten in Zusammenarbeit mit Toyota beschäftigt).
Die Initiativen der Partnerschaft umfassen:
- Einrichtung gemeinsamer Investitionsfonds
- Potenzielle Investition oder Fusion von Chartwell in WORK Medical
- Gemeinsame Investition in Gesundheitsinfrastruktur, Forschung und Entwicklung sowie globale Akquisitionen
CEO Wu Shuang erwartet, dass diese Zusammenarbeit die Betriebseffizienz, die Marktführerschaft und die internationale Wettbewerbsfähigkeit verbessert. Das Unternehmen rechnet in den nächsten drei Jahren mit einem erheblichen Umsatz- und Gewinnwachstum sowie einem Anstieg des Anteils an Produkten mit hohem Mehrwert.
- Strategic partnership with established medical device manufacturer
- Potential merger/investment opportunities to expand market presence
- Access to diverse medical technology portfolio including nuclear medicine and robotics
- Expected substantial revenue and profit growth over next 3 years
- Expansion into high-value-added products
- No immediate financial terms disclosed
- Partnership benefits dependent on future implementation of initiatives
Insights
WORK Medical's strategic partnership with Chartwell Medical represents a significant development for this micro-cap company (
This partnership provides WORK Medical access to Chartwell's diverse medical technology portfolio spanning nuclear medicine, imaging, infection control, ophthalmology, and rehabilitation robotics. Particularly noteworthy is Chartwell's existing relationships with major corporations like Toyota Motor and Toyota Tsusho through its subsidiaries.
While management projects "substantial growth in revenue and profits over the next three years," investors should note the preliminary nature of this announcement. The partnership is described in terms of initiatives "expected to address" and implementation that will "gradually" occur, suggesting this is primarily an agreement of intent. The lack of specific financial commitments, investment amounts, or concrete timelines limits the ability to quantify near-term impact.
For a company trading at
Hangzhou, China, Feb. 28, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical devices, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today announced a strategic partnership with Shanghai Chartwell Medical Device Co., Ltd. (“Chartwell Medical”), a high-end medical products manufacturer across diverse fields, including nuclear medicine, imaging, infection control, ophthalmology, and rehabilitation robotics, to drive industrial synergy and accelerate their growth in the healthcare sector.
The collaboration is to be carried out through Chartwell Medical’s subsidiaries, including Fuluo (Shanghai) Medical Equipment Co., Ltd., Fuying (Shanghai) Medical Equipment Co., Ltd. (“Fuying”), and Fufeng (Suzhou) Medical Treatment Technology Co., Ltd. (“Fufeng”). Fuying is a joint venture formed by Chartwell Medical and Sakura Seiki Co., Ltd. Fufeng is a company engaged in the sales of medical rehabilitation device co-developed by Chartwell Medical, Toyota Motor Corporation, and Toyota Tsusho Corporation. To drive mutual growth and unlock new opportunities, the partnership is expected to address the following initiatives:
- Establishing joint investment funds to align industrial and financial resources;
- WORK Medical investing in Chartwell Medical or merging Chartwell into WORK Medical; and
- Co-investing in key projects in the future, including healthcare infrastructure, research and development of advanced technology, and global acquisitions.
Mr. Wu Shuang, chief executive officer and chairman of the board of directors of WORK Medical, commented, “We are delighted to enter into a strategic partnership with Chartwell Medical. This collaboration reflects 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. In addition, our mutual goal is to advance high-end medical technologies, strengthen competitiveness in the global healthcare industry, and accelerate the adoption of cutting-edge solutions in domestic markets.”
He added, “As specific cooperation projects with Chartwell Medical are gradually implemented, we expect our product portfolio to be further enriched and improved, with an increase in the proportion of high-value-added products. We expect Work Medical’s revenue and profits to experience substantial growth over the next three years. Together, we look forward to fostering 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 and manufactures Class I and II medical devices and sells Class I and II disposable medical devices through operating subsidiaries in China. The Company has a diverse product portfolio comprising 21 products, including customized and multifunctional masks and other medical consumables. All the products have been sold in 34 provincial-level administrative regions in China, with 15 of them sold in more than 30 countries worldwide. The Company has received a number of quality-related manufacturing designations and has registered 17 products with the U.S. Food and Drug Administration allowing their products to enter the U.S. market. For more information, please visit the Company’s website: https://www.workmedtech.com/corporate.
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 broader Asia-Pacific region. It specializes in integrating and advancing high-end medical products and technologies, offering a diverse portfolio that includes hundreds of products across multiple categories, such as nuclear medicine, radiology, imaging, endoscopy, infection control, ophthalmology, and regenerative bone technologies. Chartwell Medical also holds exclusive agency rights and technical resources for several leading high-end medical brands from Japan, further strengthening its position in the market. For more information, please visit Chartwell Medical’s website: http://www.chartwell.com.cn. All information about Chartwell Medical Busana has been reviewed and approved by Chartwell Medical.
Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.
Any forward-looking statements in this press release are based on the Company’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results set forth in the Company’s annual report on Form 20-F and other documents filed by the Company with the SEC. The Company explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
For more information, please contact:
WORK Medical Technology Group LTD
Investor Relations Department
Email: ir@workmedtech.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
What are the main initiatives in the WOK-Chartwell Medical partnership announced in February 2025?
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