The Foundation of Weigao Overseas Business Division

The International "Ocean-going Warship" is Launching.

"The establishment of Overseas Business Division is to empower and enhance the efficiency of foreign trade of all industry groups and companies, create a resource sharing platform, discover international market opportunities, organize the export of products for the whole group, increase the international market scale and market share of Weigao products, combine each 'small sampans' into a 'fleet' to sail to the sea, then gradually transform to an 'aircraft carrier,' forming an overall brand awareness, and thus achieving continuous sales growth." On June 8th, Chen Lin, chairman of Weigao Group, said at the establishment meeting of Weigao Overseas Business Division.

Years go by, and the seasons flow. From 30 years ago, when Weigao received the first overseas business order through a China’s foreign trade companies, to 1994, when Weigao could complete export orders by Weigao's own foreign trade company, to 1998, Weigao went abroad for the first time to participate in the world’s largest German medical exhibition, to October 2015 when the first overseas business branch in Kenya, Africa, Weigao has never stopped exploring overseas marketing.

In recent years, Weigao has invested and acquired companies such as Rad Source Technologies, NeuroVasc Technologies, and Argon Medical Devices, set up R&D centers in the United States and Japan, and established business branches or sales offices overseas, enriching the product lines of related industries, absorbing advanced technologies and broadening global sales channels.

“Building an overseas business division can not only coordinate and manage the Group’s overseas sales, overseas investment and other cross-border business activities and affairs, but also integrate various overseas resources of Weigao and support the healthy and sustainable development of international businesses.” Chairman Chen said that the newly established Overseas Business Division integrates the personnel and superior resources of six business units, including Weigao Medical International Co., Ltd, Blood Purification Company (Shenzhen), International Business Department of Prefilled company, Foreign Trade Management Department of Orthopedic company, Foreign Trade Department of New Life company and Foreign Trade Department of suture company. The Division and the industrial sections are interdependent, cooperative, mutually reinforcing, and growing together in overseas affairs.

According to statistics, in 2021, the global medical device market will exceed $500 billion. Among the market, China accounts for about 18% of the global medical device market, and Weigao occupies about 5% of China’s medical device market. Under the guidance of the national policy and the demand for upgrading the equipment of Chinese medical and health institutions, China will also follow the development path of "emphasizing equipment over drugs" in developed countries, which means that Weigao will have a bright future in the global medical device market.

"The vision of Overseas Business Division is Made Overseas for Overseas, which is to use global resources for global distribution to meet the unmet medical needs of overseas customers." Ma Tengying, the general manager of Weigao Overseas Business Division, said that Overseas Business Division is an explorer and planner which focuses on market, brand, channel, capital, and other perspectives, while the Industrial Group is an executor and beneficiary which emphasizes technology, manufacturing, and service.

The establishment of the Overseas Business Division concentrates on driving the internationalization, not only exporting good products to the international market but also exploring good products and companies that have not entered or just entered China and using Weigao's local sales channels and manufacturing capacity to achieve cooperation through investment, mergers and acquisitions, joint ventures and OEM.

"We will aim at both China and international markets, lay out four regions through three phases, and then realize the development of Overseas Business Division and the idea of Weigao's internationalization strategy." Ma Tengying explains that, on the one hand, they will improve manufacturing capacity and expand the international market through investing and M&A and building factories overseas; on the other hand, they will speed up the construction of four regional centers and lay out the whole world to achieve the ultimate goal of combining China's growth momentum with global resources and incubating Weigao industry with global resources.