DENVER, CO, Feb. 11 /PRNewswire-FirstCall/ - Medical International Technology Inc. (MDLH.OB) www.mitneedlefree.com MIT is pleased to announce that its Chinese joint venture has made significant progress in preparation for a successful commercial launch as reported by Mr. Karim Menassa, President and CEO of Medical International Technology Inc. after his recent business trip to China.
Since its establishment in 1990, Jiangyin Lanling Bottle Stoppers Co., Ltd. (one of the members of Hualan Group) has grown to be the leading medical packaging material manufacturer in China with an extensive product range, unparalleled manufacturing scale, leading edge technologies and national recognition as a highly-valued technology enterprise. Lanling is also the leading butyl rubber stopper producer in the Asia Pacific region.
Mr. Hua Guoping, President and Chairman of Hualan Group, is proud to be working with Medical International Technology in what promises to be a very successful partnership.
China joint venture
The creation of the joint venture named Jiangsu Hualan MIT Medical Technology (MIT CHINA) Ltd., in June of 2009, has given MIT a unique advantage to expand its production operations and increase its sales and profits in the multi-billion dollar worldwide needle-free injector market. The joint venture also gives MIT the opportunity to achieve its goals for the short and long-term future.
Furthermore, MIT China venture will help Medical International Technology Inc. supply large production volumes in lesser time, which will attract large medical and pharmaceutical partners. Mr. Menassa's meetings with suppliers in China were successful and represent an important step towards reducing production cost without compromising quality.
The introduction of our Agro-Jet needle-free injector for animal application is going very well; our veterinary staff is doing an excellent job training our Distributors in the different provinces. These efforts will result in sales growth for the coming months and years.
Mr. Menassa's meeting with SFDA personnel was very positive. The construction of a class 10,000 cleanroom lab, recommended by the SFDA, was completed on January 29, 2010. Having received certification for our production facilities earlier this week brings us a step closer to our goal of beginning production of our Med-Jet line of products and all the disposable accessories in China for the Chinese market.
Mr. Menassa, together with his Chinese partners, also had successful meetings with two hospitals in the city of Shanghai recommended by SFDA personnel for clinical trials with Med-Jet models MIT-MBX and MIT-H-III. Our goal is to complete our clinical trials in June of 2010 and start marketing and selling in July 2010.
Medical International Technology Inc. objective is to ensure that its injectors become an indispensable, environmentally friendly product for doctors, dentists, veterinarians and home users around the world.
Medical International Technology Inc. is proud to continue providing a safe and effective means to help prevent the spread of deadly diseases to both humans and animals through the use of the Med-Jet(R) and Agro-Jet(R) needle-free injection system.
About Medical International Technology, Inc. MIT CANADA, with offices in Montreal, is a subsidiary of Denver, Colorado-based Medical International Technology, Inc. (MIT USA), which specializes in the development, production, marketing and sale of needle-free injectors both for humans and animals, for individual and mass vaccinations.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing a technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Medical International Technology Inc. takes no obligation to update or correct forward-looking statements.
SOURCE MEDICAL INTERNATIONAL TECHNOLOGIES INC.
|SOURCE MEDICAL INTERNATIONAL TECHNOLOGIES INC.|
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