Cytori eyes Indian market for growth

March 21st, 2011 by James

Cytori Therapeutics Inc, the medical device maker, is about to enter the Indian market by forging deals with healthcare service providers.

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The deal will include an alliance with Apollo Hospitals Enterprise, by the end of this year, according to chief executive of the company.

From in.news.yahoo.com:

Cytori’s Celution system, which has already received approval from European regulators, is used for breast reconstruction after lumpectomy in patients with breast cancer.

“We selected Apollo as a group to work with as it has the largest hospital chain within India, which gives us the opportunity for bringing our technology across India,” Chief Executive Christopher Calhoun told Reuters in an interview.

Through the deal, Cytori is hoping to sell its Celution systems to Apollo for the use in soft tissue reconstruction, including breast reconstruction, and for some aesthetic applications, Calhoun said.

He said Apollo is also interested in the development and use of Cytori’s therapies for cardiovascular indications. Cytori is also testing its stem cell-based treatment of patients with chronic heart attack patients with no treatment option.

The Chief Executive said, “Apollo group has around 50 hospitals. If each hospital over a period of time decides to buy a (Celution) system or two and use them once or twice a week, that could become a pretty significant opportunity.”

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