Heightened demand for advanced healthcare products like the "collision proof" wheelchair that uses GeckoSystems advanced AI navigation system is a direct result of the plan announced by the government of the People's Republic of China in 2009 to "deepen healthcare" system reforms. This plan sets the ambitious goal of universal health care in China by 2020. Among the many changes coming to the medical system in China is greater mobility for the disabled, and Nanle wheelchairs will be a key part of this effort, delivering leading edge wheelchair technology and design to the Chinese people.
Conservative market estimates for the need for wheelchairs in China are impressive. Worldwide, the average usage for wheelchairs is one percent (1%) of the general population. In China that would be equal to 13,400,000 people. Worldwide, wheelchair sales per year average 0.0515% of the population. In the Pacific Rim, excluding Japan, that number is only is 0.0138%. In order to meet its stated healthcare goal for 2020, the Chinese government has to manufacture and distribute an estimated 5,270,000 wheelchairs over the next ten years. This will bring them in line with the world average. If only twenty percent (20%) are powered and "collision proofed," that is over 100,000 electric wheelchairs per year, over 8,000 per month. At an average cost of at least $1,500 each, that represents annual sales of $150,000,000 per year in mainland China alone.
Once cash flows are realized by GeckoSystems, the Company expects to fund the Beta testing of their flagship product, the CareBot™, and pave the way for its entry into the consumer market.
"We are pleased with the finalization of this fundamental agreement for our company, for our shareholders, as well as for the investment community. We believe our shareholders will be as excited
|SOURCE GeckoSystems Intl. Corp.|
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