Inomed Medizintechnik is a German company that produces ultramodern biomedical products and treatments of the highest quality, in the fields of intraoperative neuromonitoring (IONM), functional neurosurgery, pain therapy and neurological diagnostics.
The company prioritises patient safety and helps clinicians worldwide provide the best care possible.
In its endeavour to build a strong establishment on the Chinese healthcare market, inomed Medizintechnik applied and had the privilege of being selected for the EU Gateway | Business Avenues mission to China in 2017.
Along with some of the best Healthcare & Medical Technologies companies from Europe, inomed Medizintechnik embarked on a mission to reach high-level representatives from Chinese organisations and find a first foothold to begin business expansion on the new market.
Thanks to efficient matchmaking with local companies facilitated by the EU Gateway | Business Avenues team, the contacts the German company made during the business mission are already bearing impressive results.
Since 2017, inomed Medizintechnik has already had three follow-up visits to China, with key names in the industry.
Major Chinese players in our dedicated field contacted me and I met both companies and universities in China. - Ulrich Albicker, Market Director Asia & Pacific, inomed Medizintechnik GmbH (Germany)
For the first time ever, in 2018, inomed presented its products for functional neurosurgery during a workshop and a practical life case on deep brain stimulation at Tsinghua University Beijing.
Strategic meetings have also had a positive impact on business growth in China.
Following the 2017 mission, inomed Medizintechnik acquired two partners and finalised new sales deals on the market, including a strategic deal in the last quarter of 2018.
Apart from that, sales in China already now reached the level of last year, so we expect at least 25% overall growth year over year. - Ulrich Albicker, Market Director Asia & Pacific, inomed Medizintechnik GmbH (Germany)
One of inomed Medizintechnik’s new partners, Beijing BiCom Tc is its exclusive distributor for intraoperative neuromonitoring and transactions between the two companies grew by 37% in one year.
The first quarter of 2019 marked the debut of hospital demos in China for new inomed applications, focused on the monitoring of the autonomous nervous system.
Inomed Medizintechnik’s second major partner acquired thanks to the business mission is Beijing NeoScience Co. Ltd., an exclusive distributor for its pain treatment line. Over the course of the first two years, sales more than doubled with the new distributor, marking a 104.6% growth.
Together, the two companies also participated in the ASEAPS (8th Association of South-East Asian Pain Societies) in April 2019.
As with any new business undertakings, companies have hurdles to overcome.
For inomed Medizintechnik, it has been the cumbersome process of investing in registration projects for getting access to the Chinese medical product market.
Still, once that obstacle surpassed, the German company has managed to truly solidify its place on the market.
In short, the request from China is there and increasing. Our business is growing, and our number of business contacts and business partners in China is also growing. - Ulrich Albicker, Market Director Asia & Pacific, inomed Medizintechnik GmbH (Germany)
All things considered, the business mission to China proved fruitful for inomed Medizintechnik, who continues to grow on the market following its successful participation in the programme in 2017.
There are new opportunities for European companies in Healthcare & Medical Technologies (including these newly opened business missions to Korea and to Japan) to reach inomed Medizintechnik’s level of success.