Medical technology companies collaborate to create Asia Pacific industry association

Several companies have banded together to form the Asia Pacific Medical Technology Association (APACMed), the group announced Friday. Member companies include Abbott, Baxter, B. Braun, Becton Dickinson, Boston Scientific, Cardinal Health, GE Healthcare, Johnson & Johnson, Medtronic, Philips, Siemens, Stryker and Zimmer. APACMed chairman Vladimir Makatsaria said "our aim is to represent the diverse group of innovative medical technology companies and industry associations in Asia Pacific," noting that "this is the first time we have combined our efforts to drive access, innovation, and collaboration in order to benefit patients in [the region]."

The association said it aims to influence healthcare policies by engaging in issues such as the regulatory environment, ethical business standards and compliance, as well as help promote innovation and talent development in the region. According to the group's chief executive, Fredrik Nyberg, "it is our hope that APACMed will be a unifying voice for the medical devices and in vitro diagnostics industries in Asia Pacific."

James Lim Leong Ching, Becton Dickinson's president in charge of Greater Asia, said "with the dynamic healthcare landscape, greater collaboration is needed to solve mutual healthcare challenges in innovative ways." He added that "we want to make modern, innovative, and reliable technologies available to patients in Asia Pacific."

According to APACMed, the medical technology industry is growing at an annual rate of around 10 percent and is expected to reach $71 billion this year.

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