JRI Orthopaedics received regulatory approval in China and will supply 10,000 hips to AK Medical over a five-year term in a deal valued at minimum £5MM (~US $6.3MM).
In 2014, the companies signed a £4MM (~$5.0MM) agreement for JRI to locally manufacture hips designed by AK for sale in the Chinese market. This new regulatory approval allows JRI to sell its own designs in that region.
Further, JRI is submitting product registrations in Japan and has signed a new distribution partner in Australia.
Source: Sheffield Telegraph