On December 13, 2023, Fosun Pharma announced that its medical device subsidiary has signed a cooperation agreement with Insightec on December 12, to establish a joint venture in China, Fosun Insightec Medical Technology Company Limited* (hereinafter referred to as "Fosun Insightec"). Fosun Insightec will focus on the commercialization, clinical application and research of the Magnetic Resonance Guided Focused Ultrasound (MRFU) Brain Therapy System (i.e. Magnetic Wave Knife Brain Therapy System) in China, which will help Parkinson's Disease patients and patients with idiopathic tremor to regain a high quality of life. In addition, Fosun Meditech plans to establish strategic partnerships with a number of medical centers in China to further explore the potential application of the Magnetic Wave Knife in neurological diseases and benefit a wider range of patients.

Mr. Liu Yi, Senior Vice President of Fosun Pharma and Chairman and CEO of the Medical Device Division, said that he is very pleased to enter into a deep strategic cooperation with Insightec. The establishment of Fosun Medical Vision will be a good start, and we believe that the mutual integration and co-creation of Insightec's international leading technological innovation capability and Fosun's strengths in China's medical device clinical practice and commercialization will bring better choices and hope to patients.

Dr. Maurice R. Ferre, Chairman and CEO of Insightec, said that as a global company, it is pleased to enter into a partnership with Fosun Medical Devices to jointly expand its business in China. Fosun Medical Insightec will promote the Magnetic Wave Knife technology to more Chinese patients, and at the same time, we will continue to explore the potential application of this technology.

"Magnetic Wave Knife" combines focused ultrasound and magnetic resonance imaging (MRI) to accurately locate the treatment target through MRI, and uses high-intensity focused ultrasound to ablate the lesion to achieve therapeutic purposes. Currently, the Magnetic Wave Knife has successfully treated more than 10,000 patients with idiopathic tremor and Parkinson's disease worldwide, and in 2021, the system has been approved by China's National Drug Administration (NMPA) for the clinical treatment of drug-refractory idiopathic tremor and tremor-predominant Parkinson's disease, making it the leading non-invasive surgical solution in this field. It is the leading non-invasive surgical program in this field. Previously, the brain "Magnetic Wave Knife" has been approved by the European CE mark and the U.S. Food and Drug Administration (FDA) in 2012 and 2018 respectively, and can be formally used for the clinical treatment of patients with idiopathic tremor and Parkinson's disease.

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