Advancing Healthcare Access: Genesis MedTech Teams Up with Silk Road Medical to Serve Patients affected by Carotid Artery Disease in China

Rhea-AI Summary

Silk Road Medical (NASDAQ: SILK) and Genesis MedTech Group have signed an exclusive distribution agreement to introduce TCAR® core products in China. TCAR is a minimally invasive surgical procedure to treat carotid artery disease, reducing the risk of stroke and improving outcomes. The partnership aims to provide comprehensive solutions to patients in China, where stroke is a major health concern.

Medical Research Analyst

The exclusive distribution agreement between Silk Road Medical and Genesis MedTech Group to introduce TCAR products in China is a strategic move with potential to significantly impact the healthcare landscape. TCAR, being a minimally invasive procedure, presents a lower risk alternative to traditional carotid artery disease treatments, such as Carotid Endarterectomy (CEA) and Transfemoral Carotid Artery Stenting (TFCAS). The introduction of this technology is particularly relevant in China, where stroke is the leading cause of death and disability and there is a high prevalence of ischemic strokes caused by carotid artery disease.

From a medical research perspective, the data indicating over 85,000 TCAR procedures in the United States underscores the procedure's acceptance and growth potential. The clinical benefits of TCAR, which include reduced risk of stroke, myocardial infarction and cranial nerve injury, align with the global healthcare shift towards less invasive treatments with better patient outcomes. As the Chinese population ages, the demand for effective stroke prevention strategies will likely increase, positioning TCAR as a potentially transformative option within the country's healthcare system.

Market Research Analyst

Exploring the commercial implications, Silk Road Medical's expansion into the Chinese market through this distribution agreement taps into a significant patient population. Given the scale of the Chinese healthcare market and the high incidence of stroke, the potential customer base for TCAR products is substantial. The partnership with Genesis MedTech, which has an established distribution network, is a strategic move that could accelerate market penetration and adoption of the ENROUTE systems in China.

Furthermore, the medical device sector in China is growing rapidly, fueled by both domestic innovation and international partnerships. Silk Road Medical's entry into this market with a cutting-edge treatment option could enhance its competitive positioning and potentially increase its market share. The market's response to the TCAR products will depend on factors such as pricing, reimbursement policies and the ability of the companies to navigate regulatory challenges. However, the partnership's success could serve as a case study for other medical device companies looking to enter or expand in the Chinese market.

Financial Analyst

From a financial perspective, the distribution agreement could have a positive impact on Silk Road Medical's revenue growth, given the size and growth potential of the Chinese medical device market. The ability to tap into a market where there is a high incidence of the condition that TCAR treats represents a significant opportunity for revenue expansion. The long-term financial success of the agreement will depend on the adoption rate of TCAR in China, which could be influenced by factors such as the effectiveness of the commercial team, the training of physicians and patient outcomes compared to traditional treatments.

Investors should monitor the roll-out of the TCAR products in China, considering the potential increase in Silk Road Medical's global footprint and diversification of revenue streams. While the initial investment and costs associated with market entry and scaling operations could affect short-term financials, the long-term growth potential in a market with high demand for stroke prevention solutions could be substantial. The company’s stock performance could reflect the market's perception of the deal's potential and its execution.

WUXI, China, March 7, 2024 /PRNewswire/ -- Silk Road Medical (NASDAQ: SILK), a medical device company based in California USA and Genesis MedTech Group have signed an exclusive distribution agreement to introduce the TCAR^® core products, ENROUTE^® Transcarotid Neuroprotection System and ENROUTE^® Transcarotid Stent System, in China. TCAR (Transcarotid Artery Revascularization) is an innovative minimally invasive surgical procedure used to treat carotid artery disease, a condition characterized by the narrowing or blockage of the carotid arteries in the neck. This narrowing or blockage can restrict blood flow to the brain and increase the risk of stroke.

Since its establishment in 2019, Genesis MedTech Group has continuously strived to enhance its peripheral interventional portfolio, offering comprehensive solutions to both physicians and patients. Through its commercial team and distribution network, patients in China will now have access to the core TCAR products, the ENROUTE^® Neuroprotection System and Stent Delivery System. TCAR has shown to reduce the risk of stroke, death, myocardial infraction (MI), and Cranial Nerve Injury (CNI). It is a less invasive procedure with lower rates of procedural complications and an overall improvement in outcomes, contributing to a positive impact on healthcare. 

Carotid artery disease often occurs in the middle-aged and elderly population, especially among those with atherosclerosis. The condition is characterized by the buildup of plaque, and over time can cause narrowing or blockage of the carotid arteries, affecting blood supply to the brain and leading to diseases such as ischemic stroke. In recent years, stroke has become the second leading cause of mortality worldwide. In China, it now ranks as the primary cause of death and disability. Each year, over 17 million strokes affect individuals over 40 years old. Notably, around one third of ischemic strokes are caused by carotid artery disease. 

In the United States, TCAR is rapidly replacing traditional procedures. As of the end of 2023, over 85,000 TCAR procedures have been performed. Before the introduction of TCAR, moderate to severe carotid artery disease was generally treated clinically with two surgical methods: Carotid Endarterectomy (CEA) and Transfemoral Carotid Artery Stenting (TFCAS). However, CEA involves a large incision and carries a higher risk of complications, posing a risk of damage to the cranial nerves of patients. Studies have also shown a higher risk of stroke during TFCAS as compared to TCAR and CEA. Based on clinical studies, TCAR is an advancement in the management of carotid artery disease. 

Professor Chen Zhong, Chairman, Vascular Surgery Group of Chinese Medical Association, President, Vascular Surgery Physicians Branch of Chinese Medical Doctor Association and Chief Physician, Vascular Surgery at Beijing Anzhen Hospital, commented, "There is considerable evidence showing that TCAR offers advantages for patients with symptomatic carotid artery stenosis or those at anatomical or surgical risk."

Silk Road Medical's CEO, Chas McKhann stated, "This agreement represents a promising initial step towards expanding the reach of the TCAR therapy with the offering of our ENROUTE Neuroprotection System and Stent Delivery System to more patients worldwide, including those in China. We are very pleased to have partnered with Genesis MedTech, a respected leader in medtech, who shares our vision for the potential impact of TCAR in preventing strokes."

"Enabling TCAR to be made accessible to the patients in China certainly marks another milestone in our efforts to bring innovative treatments to our patients. Together with Silk Road Medical, we remain dedicated to make better healthcare more accessible, improving patient care and outcomes." shared Warren Wang, Genesis MedTech Group's Chairman and CEO.

ABOUT GENESIS MEDTECH

Genesis MedTech Group is a medical device company headquartered in Singapore. Founded by a group of professionals and entrepreneurs with MedTech experience globally, the company's product portfolio focuses on multi-therapy medical device products for emerging markets with sales and distribution through its established commercial network. Genesis MedTech Group covers the entire industry value chain of research and development, production, quality management, supply chain, marketing, and sales.

For more information, visit http://www.genesismedtech.com 

ABOUT SILK ROAD MEDICAL and TCAR

Silk Road Medical, Inc. (NASDAQ: SILK), is a medical device company located in Sunnyvale, California, and Plymouth, Minnesota, that is focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR). TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke. For more information on how Silk Road Medical is delivering brighter patient outcomes through brighter clinical thinking, visit www.silkroadmed.com and connect on Twitter, LinkedIn and Facebook.

References

Ramsay, I et al. Perioperative Outcomes in Transcarotid Artery Revascularization Versus Carotid Endarterectomy or Stenting Nationwide. Operative Neurosurgery 2023, 25(5):453-460.

Wang Longde, Writing Group of the China Stroke Prevention and Treatment Report 2020. Summary of the China Stroke Prevention and Treatment Report 2020[J]. Chinese Journal of Cerebrovascular Diseases, 2022, 19(2):136-144.

Vascular Surgery Group of the Chinese Medical Association Surgical Branch. Diagnosis and Treatment Guidelines for Carotid Artery Stenosis[J]. Chinese Journal of Vascular Surgery (Electronic Edition), 2017, 2(003):169-175. DOI:10.3760.cma.j.issn.2096-1863.2017.02.003

So K, Kashyap V S, Vikram, et al. (2021). Outcomes in 1-year Cohort After Transcarotid Artery Revascularization in the ROADSTER2 Trial. Journal of Vascular Surgery. 74. e383-e384. 10.1016/j.jvs.2021.07.161

 

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SOURCE Genesis MedTech

What is the significance of the distribution agreement between Silk Road Medical and Genesis MedTech Group?

The agreement aims to introduce TCAR® core products in China, offering innovative treatment options for carotid artery disease.

What are the core products being introduced in China through this agreement?

The core products are the ENROUTE® Transcarotid Neuroprotection System and ENROUTE® Transcarotid Stent System.

How does TCAR® help in reducing the risk of stroke?

TCAR® is a less invasive procedure with lower rates of procedural complications, reducing the risk of stroke, death, myocardial infraction (MI), and Cranial Nerve Injury (CNI).

Why is carotid artery disease a significant health concern?

Carotid artery disease can restrict blood flow to the brain, leading to an increased risk of stroke, especially among middle-aged and elderly populations.

What is the impact of TCAR® on healthcare outcomes?

TCAR® has shown to improve outcomes for patients with carotid artery disease, contributing to a positive impact on healthcare.

Who commented on the advantages of TCAR for patients with carotid artery stenosis?

Professor Chen Zhong, Chairman of Vascular Surgery Group of Chinese Medical Association, highlighted the benefits of TCAR for patients.

What did Silk Road Medical's CEO, Chas McKhann, say about the partnership with Genesis MedTech Group?

Chas McKhann stated that the agreement represents a promising step towards expanding TCAR therapy globally, including in China.

What is Genesis MedTech Group's Chairman and CEO, Warren Wang, focused on regarding the partnership?

Warren Wang emphasized the importance of making innovative treatments like TCAR accessible to patients in China, aiming to improve patient care and outcomes.