Healthcare spending in China has been increasing over the past few years, and China is now the second-largest healthcare market in the world. Pyrexar has been represented in China by our trading partner Orientech Dalian for the last ten years. Ever since the name and address change from BSD Medical to Pyrexar, we have been working with the Chinese regulatory agencies to re-register the product for export to the country. Bureaucracy can take its toll on market presence, especially in the growing field of hyperthermia.
So we took a trip to China to review our regulatory progress and meet with potential customers for our hyperthermia products. As we have experienced in the past, Orientech is a very generous host, treating us very well on each leg of our journey. After some internal discussions with our distributors, we believe we have a direction to alleviate the regulatory blocks, so products will again be available in China.
Orientech invited us to present our hyperthermia line to key prospects in the area. The first stop was the Ansteel Group Hospital, a large facility in the Tiedong District of Anshan in the Liaoning Province. The Ansteel Group facility houses center for Cancer, Genetic Detection, Immunotherapy, and Radiation Oncology. Our next stop was Dalian Municipal Central Hospital in the Shahekou District of Dalian in the Liaoning Province. Dalian Municipal has received many accolades, including “top 20 best service hospitals” and “most reliable hospital in the province.”
After successfully met presentations, not only were the hospitals very excited and receptive about adding hyperthermia to their cancer treatment services, but they preferred the newly updated, top of the line, Image-Guided Thermal System, the BSD-2000 3D/MR. According to Mrs. Wang, president of Oreintech, there are more than half a dozen hospitals in the region looking at the new MRI based system. Now I feel a bit embarrassed teasing the new product without supporting product information. Our first commercial installation of the newly updated product is being signed off this week in Munich, Germany, and we will bring you more details very soon.