GC Medical Science, Yuwell Target CGM Market

(Provided by GC Medical Science) GC Medical Science is joining hands with Yuwell, a powerhouse in the Chinese medical device market, to target the continuous glucose monitoring (CGM) market.  GC Medical Science announced on Oct. 14 that it signed a memorandum of understanding (MOU) to establish a strategic partnership at Yuwell's headquarters in China on Oct. 12. This agreement was arranged to expand the existing cooperative relationship between the two companies, which has been maintained through the home medical device brand 'GCFiT', into the CGM sector. CGM is a device that checks the trend of blood sugar changes by measuring glucose levels in real time with a sensor attached to the skin, and it is considered a core piece of equipment for diabetes management. The two companies will cooperate closely for the domestic introduction of CGM products owned by Yuwell. GC Medical Science is responsible for obtaining domestic approvals and responding to regulations, as well as overall marketing, sales, and distribution. Yuwell takes on the role of supporting technical documents, clinical data, and manufacturing quality assurance required for approvals, along with product manufacturing. Specific business conditions, such as product price, purchase volume, and exclusive supply, are planned to be finalized through additional consultations in the future. GC Medical Science has established a policy to maximize synergy by combining Yuwell's manufacturing capabilities with its own domestic sales network. The partner company Yuwell is a representative Chinese medical device company established in 1998 and is listed on the Shenzhen Stock Exchange.