May 31, 2023 | Business
On May 30, China Medical System Holdings Limited (“CMS” or the “Group”) announced that on 26 May 2023, the New Drug Application (NDA) of Tildrakizumab Injection under the brand name of ILUMETRI has been approved by the National Medical Products Administration of China (NMPA). ILUMETRI is indicated for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.
– CMS is pleased to announce the NDA of Tildrakizumab Injection under the brand name of ILUMETRI, a monoclonal antibody specifically targeting the p19 subunit of IL-23, has been approved in China. ILUMETRI is indicated for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.
– The extended study of ILUMETRI’s Phase III clinical trial in China, demonstrated that the primary efficacy assessment indicator PASI 75 response rate continued to increase over treatment time. The PASI 75 response rate reached a high level after 28 weeks of treatment with ILUMETRI and maintained at 91.3% at week 52, and ILUMETRI showed good long-term safety and tolerance.
– ILUMETRI only needs to be administered 4 times a year during maintenance treatment period, which may bring higher patient compliance.
– ILUMETRI will synergize with CMS Aesthetics’ marketed products, Hirudoid, Aethoxysklerol and pipeline products, to solidify comprehensive competitiveness of CMS in the dermatology field.
– This is CMS’s second innovative drug approved for marketing in China this year following the approval of Methotrexate Injection.
ILUMETRI is a humanized lgG1/k monoclonal antibody designed to selectively bind to the p19 subunit of interleukin-23 (IL-23) and inhibit its interaction with the IL-23 receptor, leading to inhibition of the release of pro-inflammatory cytokines and chemokines. ILUMETRI has patents on composition and formulation in China.
The results of the extended study of its Phase III clinical trial in China demonstrated that the primary efficacy assessment indicator PASI 75 response rate continued to increase over treatment time. The PASI 75 response rate reached a high level after 28 weeks of treatment with ILUMETRI and maintained at 91.3% at week 52, and ILUMETRI showed good long-term safety and tolerance. ILUMETRI only needs to be administered 4 times a year during maintenance treatment period, which may bring higher patient compliance.
Psoriasis is an autoimmune disease with complex causes, where IL-23 is regarded as one of the important driving factors of the pathogenesis of psoriasis. The incidence of psoriasis in China is about 0.47%, with the number of patients exceeding 7 million, of which more than 30% have developed into moderate-to-severe disease. ILUMETRI will provide moderate-to-severe plaque psoriasis patients with a safe and effective treatment option.
It took only 14 months from obtaining the approval for the drug clinical trial to submitting the NDA for ILUMETRI in China, with the enrollment of 220 subjects completed in only 2.5 months (which included the Spring Festival), highlighting CMS’s highly efficient clinical development capabilities supported by its commercialization strength.
ILUMETRI is CMS’s second innovative drug approved to be marketed in China in 2023, following the recent approval of Methotrexate Injection. CMS has invested in, and collaborated with, innovative companies globally over the last 5 years to jointly develop innovative products with academic value and differentiated advantages, in order to meet unmet clinical needs and enhance the accessibility of global innovative drugs for Chinese patients. Starting from 2023, CMS’s innovation development is stepping into the harvest period.
ILUMETRI has been approved for marketing in the Hong Kong Special Administrative Region of China in April 2022. Tildrakizumab Injection has also been approved for marketing in the U.S., EU, Japan, UK, Switzerland, Canada, Australia and other countries/regions.
About CMS
CMS is a platform company linking pharmaceutical innovation and commercialization with strong product lifecycle management capability, dedicated to providing competitive products and services to meet unmet healthcare needs. In 2022, the Group recorded a turnover of RMB9,150 million; in the case that all medicines were directly sold by the Group, the turnover reached RMB10,498 million. Profit for the year reached RMB3,276 million.
CMS focuses on developing first- or best-in-class innovative products and has made the layout of 30 differentiated pipeline products with strong market potential. CMS deeply engages in specialty therapeutic fields, and has developed proven commercialization capabilities, extensive networks and expert resources, resulting in leading academic and market positions for its major marketed products. CMS continues to strengthen the competitiveness of its cardio-cerebrovascular/gastroenterology business, and independently operated dermatology and medical aesthetic business, and ophthalmology business, whilst enhancing the scale and efficiency. CMS also entered into the Southeast Asian market to create new opportunities to further enhance the sustainable development of the Group.
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CMS Investor Relations
China Medical System Holdings Ltd.
Email: ir@cms.net.cn
Website: https://web.cms.net.cn/en/home/
Mar 29, 2023 | Business
Q’Apel Medical Inc. was granted the CE Mark under MDR for Walrus, their U.S. market-leading Balloon Guide Catheter (BGC) utilized in treating patients suffering an acute ischemic stroke. The Walrus BGC has been utilized by Neuro Interventional physicians since 2019 and has successfully treated over 20,000 patients in the United States.
The Walrus BGC is a unique development in the field of Mechanical Thrombectomy procedures. It provides physicians with not only the known benefits of BGC use clinically, but unique to Walrus, superior ease of use in preparation in these urgent procedures. Importantly, Walrus enables the physicians to navigate the catheter into a more distal location easily and safely compared to other systems, which is associated with improved patient outcomes from stroke.
“The anticipation of Walrus in our international markets has been enormous, and we look forward to the same performance and loyalty around Walrus we have been fortunate to experience in the United States,” said King Nelson, Q’Apel Medical’s CEO.
“We are thrilled to be entering the EU and other international markets with Walrus and providing more physicians in more countries the unparalleled performance of our flagship catheter. This CE Mark certification represents a significant growth milestone for Q’Apel Medical providing access to new markets,” commented Jodie Fam, Chief Marketing Officer & GM International.
About Q’Apel Medical
Q’Apel Medical designs highly innovative technologies for neurovascular interventions and unmet clinical needs. Q’Apel’s portfolio comprises three products, the Walrus Balloon Catheter System, the Wahoo Hybrid Access System and Armadillo Radial Access System. Before Walrus came along, balloon-based variable stiffness catheters brought all manner of technological constraints. Not anymore. By blending flow control, trackability, support, and access into one revolutionary solution, Walrus offers truly unmatched functionality. The Wahoo Hybrid Access System and Armadillo Radial Access System are dual-mode catheters and part of the SelectFlex(TM) Family of Neurovascular Catheters. These devices feature two distinct operational modes, allowing physicians to easily switch modes at any point during a clinical case and reducing the need for multiple catheters in challenging procedures.
Feb 16, 2023 | Business
For the last 100 years, Swedish Medical Center has been meeting the medical needs of Englewood and surrounding communities. As the community’s needs have changed over time, the hospital has grown and enhanced services to provide the highest level of care. Now, a Level 1 trauma center treating the region’s most complex medical cases, the hospital has turned its attention to expanding its emergency department (ED) space to streamline and improve care excellence. This project is part of a larger construction project in which the hospital built a new northwest tower near the corner of Girard Avenue and Logan Street in Englewood. The enhanced emergency department will be located adjacent to the new tower.
This month, the hospital begins phase 1 of the expansion plan. During this phase, the ED will relocate its entrance and triage space temporarily until the department’s final construction is completed (expected for Sept. 2023). Phase 1 is not just a holding phase, however. It will actually allow improved access to the emergency department with 24/7 valet, a covered entrance and five valet lines that can be used during high volume. “We’ve heard from our patients about some of the amenities and resources they’d like to see in our space, and we have taken those to heart,” explains Elisha Nunley, vice president of emergency services. “In response, we have secured an Englewood police officer who will be stationed at the front door to greet guests and ensure the highest level of protection. We also have enhanced our privacy with new treatment rooms that allow our providers to begin patient’s care and answer questions in a private space.”
Phase 2 will begin approximately a week after phase 1. This phase focuses on optimizing the permanent waiting room and triage area. At the completion of phase 2, the hospital will be able to offer patients a smoother experience with more privacy and dedicated treatment rooms.
“Moving into this new space is really representative of what we stand for at Swedish. We have had a few difficult years in healthcare, and there are only a few places that are able to build right now,” Dr. Tsipis concludes. “At Swedish, we’re not stopping. We’re expanding. We’re innovating. We’re pushing the envelope to provide the absolute best care of patients. And that’s exactly what we are going to do.”
To learn more about the project, and emergency services at Swedish Medical Center, visit the hospital’s Web site at SwedishHospital.com.
About Swedish Medical Center
Swedish Medical Center is located in the south metro Denver area where it has been a proud member of the community for more than 110 years. An acute care hospital with 408 licensed beds, annually Swedish cares for more than 200,000 patients with a team of approximately 2,000 dedicated employees, 300 volunteers and 1,400 physicians.
As a national leader in neurosciences, Swedish serves as the hub of the Swedish Neuro Network. The hospital is the Rocky Mountain Region’s preeminent referral center for the most advanced stroke treatment and was the state’s first Joint Commission certified Comprehensive Stroke Center. Swedish also is home to Colorado’s first fully comprehensive robotics program with nine robots in dedicated robotics operating rooms; patients benefit from a high level of specialization with robotics-trained caregivers at every stage of treatment, as well as robotics-specific design in the program’s dedicated pre-op, ORs, PACU and inpatient spaces. As the region’s neurotrauma and orthopedic trauma provider and a level I trauma facility, more than 150 facilities regularly transfer highly complex cases to Swedish. The trauma program includes a burn and reconstructive center, which has been certified for adult burn care by the American Burn Association and recognized nationally for providing the highest quality of care to adult and pediatric burn and reconstructive patients.
Swedish Medical Center is proud to be a part of the HCA Healthcare’s Continental Division, which was named the top health system in the state by IBM Watson Health and our system was named one of the top five large health systems in the country. This division includes our local system, HealthONE, which also received recognition as the top health system in the state by IBM Watson Health. Consistently among the Denver Business Journals’ list of top corporate philanthropists in the Denver-metro area, HealthONE contributed more than $889,000 through cash and in-kind donations last year alone, and also provided $677M in charity, uninsured and other uncompensated care along with nearly $200M in federal, state and local taxes.
Swedish Medical Center
Richard Grissom
(303) 788-5944
SwedishHospital.com
Contact
Feb 1, 2023 | Business
Swedish Medical Center today announced that it is one of America’s 250 Best Hospitals for 2023, according to new research released by Healthgrades, the leading marketplace connecting doctors and patients. This achievement puts Swedish in the top 5% of hospitals nationwide for overall clinical performance across the most common conditions and procedures. This is the 3rd consecutive year Swedish is among America’s Best.
“At Swedish, we are constantly evolving and adapting to the challenges in our current climate,” Ryan Tobin, president and chief executive officer of Swedish Medical Center explained. “This recognition demonstrates the one thing that we will never change—our unwavering commitment to the highest quality care for our patients and community. I am honored to work among this incredibly dedicated and talented team.”
Healthgrades evaluated patient mortality and complication rates for 31 of the most common conditions and procedures at nearly 4,500 hospitals across the country to identify the top-performing hospitals. This year’s analysis revealed significant variation between America’s Best 250 Hospitals and hospitals that did not receive the distinction. In fact, if all hospitals performed similarly to America’s 250 Best, over 160,000 lives could have been saved.*
“We’re proud to recognize Swedish Medical Center as one of America’s 250 Best Hospitals for 2023,” said Brad Bowman MD, Chief Medical Officer and Head of Data Science at Healthgrades. “As one of America’s 250 Best Hospitals, Swedish consistently delivers better-than-expected outcomes for the patients in their community and is setting a high national standard for clinical excellence.”
Visit Healthgrades.com/quality/americas-best-hospitals for an in-depth look at Swedish’s performance and profile to explore the highest quality care in Denver today. Consumers can also visit Healthgrades.com for more information on how Healthgrades measures hospital quality, and access the complete methodology here. A patient-friendly overview of the complete methodology is available here.
*Statistics are based on Healthgrades analysis of MedPAR data for years 2019 through 2021 and represent three-year estimates for Medicare patients only.
About Swedish Medical Center
Swedish Medical Center is located in the south metro Denver area where it has been a proud member of the community for more than 110 years. An acute care hospital with 408 licensed beds, annually Swedish cares for more than 200,000 patients with a team of approximately 2,000 dedicated employees, 300 volunteers and 1,400 physicians.
As a national leader in neurosciences, Swedish serves as the hub of the Swedish Neuro Network. The hospital is the Rocky Mountain Region’s preeminent referral center for the most advanced stroke treatment and was the state’s first Joint Commission certified Comprehensive Stroke Center. Swedish also is home to Colorado’s first fully comprehensive robotics program with nine robots in dedicated robotics operating rooms; patients benefit from a high level of specialization with robotics-trained caregivers at every stage of treatment, as well as robotics-specific design in the program’s dedicated pre-op, ORs, PACU and inpatient spaces. As the region’s neurotrauma and orthopedic trauma provider and a level I trauma facility, more than 150 facilities regularly transfer highly complex cases to Swedish. The trauma program includes a burn and reconstructive center, which has been certified for adult burn care by the American Burn Association and recognized nationally for providing the highest quality of care to adult and pediatric burn and reconstructive patients.
Swedish Medical Center is proud to be a part of the HCA Healthcare’s Continental Division, which was named the top health system in the state by IBM Watson Health and our system was named one of the top five large health systems in the country. This division includes our local system, HealthONE, which also received recognition as the top health system in the state by IBM Watson Health. Consistently among the Denver Business Journals’ list of top corporate philanthropists in the Denver-metro area, HealthONE contributed more than $889,000 through cash and in-kind donations last year alone, and also provided $677M in charity, uninsured and other uncompensated care along with nearly $200M in federal, state and local taxes.
About Healthgrades
Healthgrades is dedicated to empowering stronger and more meaningful connections between patients and their healthcare providers. As the #1 platform for finding a doctor and a leader in healthcare transparency, we help millions of consumers each month find and schedule appointments with their healthcare professional of choice and prepare for their appointments with best-in-class, treatment-focused content.
Our health system, large group practice, and life sciences marketing solutions have been helping our partners reach and engage consumers who are on their way to the doctor for over 20 years.
Dec 30, 2022 | Business
Beauty Farm Medical and Health Industry Inc. (“Beauty Farm” or “Company”, stock code: 2373), the largest provider of traditional beauty services in China, today announces the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“SEHK”).
Beauty Farm plans to offer an aggregate of 40,536,500 Offer Shares under the Global Offering (subject to the Over-allotment Option), consisting of 36,482,500 International Offer Shares (subject to reallocation and the Over-allotment Option) and 4,054,000 Hong Kong Offer Shares (subject to reallocation), at a price of HK$19.32 per share.
The Company will start its public offering in Hong Kong at 9 a.m. on 30 December, 2022 (Friday) and end at 12 noon on 6 January, 2023 (Friday). Dealings in shares on SEHK are expected to commence on 16 January 2023 (Monday), with the stock code of 2373 in board lots of 500 shares each.
Morgan Stanley Asia Limited, Haitong International Capital Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors; Morgan Stanley Asia Limited, Haitong International Securities Company Limited and Huatai Financial Holdings (Hong Kong) Limited are the Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Managers.
Beauty and health management service provider with diversified brand portfolio in China
Beauty Farm is a leading player of the chain service brand in China’s beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. The Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle. As of June 30, 2022, the overall service network of Beauty Farm comprised 352 stores, including 177 direct stores and 175 franchised stores. Among the direct stores, 84 stores were located in tier-one cities and 73 stores were located in new tier-one cities.
Constant evolution of business model in response to market demand, offering clients overall beauty and health management services
As the leading chain brand in China’s beauty and health management service industry, Beauty Farm has provided traditional beauty services to clients for nearly three decades. With insights into clients’ increasingly diversified demand accumulated through years of services, the Company has extended its offerings by providing more sophisticated services such as aesthetic medical services since 2011. Thereafter, the Company commenced to build its subhealth assessment and intervention service capacity in 2018, in response to the rising demand of subhealth assessment and intervention services as a result of consumption upgrade and China’s rising prevalence rate of subhealth status. Counting the revenue generated in 2021, traditional beauty services, aesthetic medical services, and subhealth assessment and intervention services represented 58.8%, 37.8% and 3.4% of the total revenue for the year. These service offerings of Beauty Farm complement each other and create a synergistic effect for the overall operations of the Company. The Company’s long history in traditional beauty services has positioned the Company uniquely in the industry and fueled the revenue growth without significant increase in customer acquisition costs as the Company has become many members’ lifelong trusted advisor on health and beauty. And 21.7% and 21.2% of members of the Company’s traditional beauty services in 2021 and the six months ended June 30, 2022, respectively, purchased aesthetic medical services or subhealth assessment and intervention services, which is expected to further grow in the future. Likewise, the expansion of aesthetic medical services and subhealth assessment and intervention services can also further boost the growth of traditional beauty services going forward.
Standardized services supported by digitalized platform
Beauty Farm has established an integrated service platform to ensure high-quality services to its clients in a consistent manner across all stores. The digitalized platform of the Company is supported by standardized operating procedures and digital infrastructure covering stringent quality control, training system and supply chain management. The Company achieved one of the few highest service personnel annual retention rates in 2021 within the beauty and health management service industry. Among all the service personnel who have stayed with us for more than one year, they have an average of 6.1 years of retention. The standardization and digitalization of the business platform provides scale advantages across various aspects of the Company’s operations that can be leveraged by its stores and service personnel. The integrated service platform is capable of consolidating and processing operational data accumulated from various systems across the store network. The Company also applies data mining and data analytics to obtain valuable insights to profile its clients’ transaction patterns, consumption habits, and lifetime client value. Such tech-enabled enhancements allow the Company to customize its services according to clients’ needs so as to maintain their stickiness and identify cross-selling opportunities. The platform-based operating model allows Beauty Farm to standardize various aspects of its operations to improve both client experience and the service performance of its service personnel. In addition, as the Company continues to accumulate and analyze digital information from its day-to-day business operations, the Company can further improve its operational efficiency.
A large client base of active members supported by CRM system
The comprehensive service offerings of Beauty Farm have attracted a large base of active clients, which is supported by a comprehensive client service system. In 2021, the direct stores of the Company served 77,356 active members, which was increased by 12.5% in 2020. The active members from direct stores on average made 10.8 visits (2020: 10.2 visits) and spent RMB20,832 in 2021 (2020: RMB20,151). 80.7%, 82.1%, 84.6% and 77.0% of the active members in 2019, 2020, 2021 and the six months ended June 30, 2022 made multiple purchases of the Company’s services in the same period, respectively. In addition to the increasing client volume in direct stores, the franchised stores of the Company served 27,916 active members in 2021 and 22,552 active members in the six months ended June 30, 2022.
Sustainable development supported by organic growth and strategic acquisitions
Beauty Farm has a proven track record of rapidly expanding its geographic footprint across China and has achieved rapid and sustainable business growth through both organic growth and strategic acquisitions. The scalability and replicability of its business is evidenced by its ability to open new stores rapidly. The Company opened 45 new direct stores from 2019 to June 30, 2022. Beauty Farm is able to ramp-up its new stores and achieve profitability efficiently. Contributed by the Company’s long-term business relationship with prime shopping malls and the ability to bring strong footage to the venue, the typical lead time from the completion of site selection to store opening is approximately three months. From 2014 to June 30, 2022, a new traditional beauty service store on average achieved initial breakeven in eleven months after commencement of operation.
Beauty Farm experienced a successful track record of identifying, acquiring and integrating stores into its network. The Company has completed 20 acquisitions in beauty and health management service industry from 2014 to June 30, 2022, most of which have successfully enhanced the Company’s business offerings and management team. Upon the completion of integration, acquired stores typically witness improved business performance and rapid client expansion. For example, the acquisition of Palaispa shows the Company’s acquisition power and capabilities in integration. Revenue generated from Palaispa members and franchisees increased from RMB102.4 million in 2017 to RMB185.7 million in 2021 at a CAGR of 16.0%. Those acquired stores were smoothly integrated into the Company’s network, ensuring further synergies and value creation. Going forward, Beauty Farm will continue to identify and evaluate acquisition opportunities in high-quality stores to capture growth opportunities.
The success of Beauty Farm is also attributable to its visionary and dedicated management with extensive industry experience, as well as strong shareholder support. Since 2013, CITIC PE, who has extensive experience managing and growing companies in the beauty and health management service industry, has been working closely with Beauty Farm to establish a standardized and disciplined chain business with nationwide footprint and has made important contributions to the company’s strategic formulation, merger and expansion, executive recruitment, brand and design, human resources, supply chain, marketing, finance and other aspects of management improvement.
Looking forward, Beauty Farm plans to carry out below key growth strategies to realize its development, including strategically expanding its service network and marketing channels to expand its client base and increase brand awareness; further enhancing its operational efficiency and client experience through standardization and digitalization of its system; improving client loyalty and fulfilling clients’ evolving needs by introducing new technologies, equipment and products, and expanding its service offerings; continuing to cultivate, recruit and retain high-caliber talent and strengthen its human resources management mechanism; and integrating industry resources and promoting the development of industry standards by deepening cooperation with upstream suppliers and sharing its industry and management experience.
Beauty Farm Medical and Health Industry Inc.
Beauty Farm Medical and Health Industry Inc. (“Beauty Farm” or “Company”, stock code: 2373) is a leading player in China’s beauty and health management service industry, which has large and loyal client base, extensive network with expansion efficiency, diversified services and product offerings as well as strong brand awareness. According to Frost & Sullivan, Beauty Farm is the largest provider of traditional beauty services and the fourth largest non-surgical aesthetic medical service provider in China with a market share of 0.2% and 0.6% respectively, as measured by revenue in 2021. Leveraging 29 years of industry experience and adapting to evolving client demand, the Company provides overall beauty and health management services through its well-established and widely recognized brand portfolio of BeautyFarm, Palaispa, CellCare and Neology. The service offerings of the Company cover traditional beauty services, aesthetic medical services as well as subhealth assessment and intervention services, across the full client lifecycle.
This press release is issued by Porda Havas International Finance Communications Group for and on behalf of Beauty Farm Medical and Health Industry Inc. For further information, please contact:
Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: projectgarden.hk@pordahavas.com
Topic: Press release summary
Sectors: Healthcare & Pharm, Beauty & Skin Care
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