Shanghai Fosun Pharmaceutical : Fosun Pharma and Insightec Establish Joint Venture to Expand Global Access to Focused Ultrasound Treatment for Neurological Diseases

HAIFA, Israel and MIAMI, FL (Dec. 12 2023) - Insightec, a global healthcare company dedicated to using acoustic energy to transform patient care announced teaming up with Fosun MedTech (Fosun Pharma subsidiary corporation) on a joint venture to expand access to focused ultrasound (FUS) treatment for neurological diseases in China. This joint venture is focused on marketing and developing clinical efforts of Exablate Neuro FUS system in improving the lives of patient living with essential tremor (ET) and Parkinson's disease (PD), working to help them regain their quality life and wellbeing. Additionally, the joint venture intends to expand the strategic partnership by engaging with medical centers to explore future applications for the company's Exablate Neuro FUS system.

"This joint venture marks a promising beginning," said Liu Yi, Senior Vice President of Fosun Pharma, Chairman and CEO of Fosun MedTech. "We believe that Insightec's technological innovation strength in the international market, combined with Fosun Pharma's clinical practice advantages in domestic medical devices field, we will provide patients with a wider range of choices and opportunity."

"As a global enterprise, we are thrilled to expand our operations and services in China in partnership with Fosun," said Maurice R. Ferré, MD, CEO and chairman of Insightec. "Our joint venture will give people in China expanded access to our innovative treatment while we continue to explore our technology's potential."

Exablate Neuro uses magnetic resonance (MR) imaging to guide FUS energy to precise locations within the brain, and has been used to treat more than 10,000 people globally suffering from ET and PD. In 2023, the system received European CE certification for treating ET and PD, following FDA approval in 2022 in the United States. In 2021, it achieved regulatory approval from China's National Medical Products Administration (NMPA), establishing its status as the sole MR-guided FUS system (MRgFUS) used for clinical treatment of ET and PD.

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About Fosun MedTech:

FOSUN MEDTECH is one of the core business platforms of Shanghai Fosun Pharmaceutical (Group) Co., Ltd, which integrates the products of its China and foreign member enterprises to expand its business fields in three strategic orientations: "medical aesthetics", "respiratory health" and "professional medical technologies and products." We always adhere to the patient-centred approach and take innovation as the core driving force for development, linking global resources, releasing the potential of cooperation and serving Chinese doctors' patients.

About Fosun Pharma:

Founded in 1994,Shanghai Fosun Pharmaceutical (Group) Co., Ltd.*("Fosun Pharma"; stock code: 600196. SH, 02196. HK) is a global innovation-driven pharmaceutical and healthcare industry group. Fosun Pharma directly operates businesses including pharmaceuticals, medical devices, medical diagnosis, and healthcare services. As a shareholder of Sinopharm Co., Ltd., Fosun Pharma expands its areas in the pharmaceutical distribution and retail business.

Fosun Pharma is patient-centered and clinical needs-oriented. The company continuously enriches its innovative product pipeline through independent research and development, cooperative development, license-in, and in-depth incubation. Fosun Pharma improves the research and clinical development capabilities of FIC (First-in-class) and BIC (Best-in-class) new drugs as well as accelerates the R&D and launch of innovative technologies and products.

Guided by the 4IN strategy (Innovation, Internationalization, Intelligentization, and Integration), Fosun Pharma will uphold the development model of "Innovation Transformation, Integrated Operation and Steady Growth", with the mission of creating shareholder values through strengthening its independent R&D and external cooperation and enriching its product pipelines, as well as promoting the global networks and enhancing operational efficiency. Fosun Pharma will actively promote the digital and physical business layout in the pharmaceutical and healthcare industry and is committed to becoming a first-class enterprise in the global pharmaceutical and healthcare markets.

For more information, please visit our official website:www.fosunpharma.com.

AboutInsightec:

Insightec is a global healthcare company creating the next generation of patient care by realizing the therapeutic power of acoustic energy. The company's Exablate Neuro platform focuses sound waves, safely guided by MRI, to provide tremor treatment to patients with medication-refractory Essential Tremor and Tremor Dominant Parkinson's Disease. Research for future applications in the neuroscience space is underway in partnership with leading academic and medical institutions. Insightec is headquartered in Haifa, Israel, and Miami, with offices in München, Dallas, Shanghai, and Tokyo.