Time Medical invited to visit UK
Between 13th to 16th, March, 2019, Time Medical was invited by UK Trade & Investment agency (UKTI) and the Commercial Office of the Embassy of China to visit UK. Our Chairman, Professor Ma Qiyuan, Vice President, Johnson Chong and the International Marketing Manager, Lois Poon were glad to meet the UKTI Senior Officer, Dr. Holly Hou and Foreign Trade Project Officer, Cillian Cousins in London.
Professor Ma and his team also visited Imperial College London, White City Campus, Cambridge University, Cambridge Biomedical Center and Oxford University.
Professor Ma was invited by MedCity to participate in the Life Science Development Conference which was held at the top level of the Westminster Conference Centre on 15th March.
Time Medical's visit to the UK was in response to the National and Health Planning Commission's ‘’Belt and Road strategy, and participated in global competition with high-quality large-scale medical equipment. The UK has a population of nearly 70 million and all medical diagnostic equipment is imported from multinational companies.
After the Brexit, the trade uncertainty with the EU has increased significantly, which is an opportunity for Time Medical’s products to enter the UK. The UK is a global leader of pharmaceutical R&D and industry development which has great opportunity for 7T nuclear magnetics for small animals to enter such a large market.
Finally, the UK pet diagnostic market is the largest in Europe. Dr. Larkin mentioned the UK pet diagnostic market has abundant potential, but currently the main supplier in the market is Hitachi's permanent magnet MRI system.
In addition, the United Kingdom is the only country in the world that can develop super high field superconducting magnets except the United States. A science and technology staff at Oxford University has developed the world's first 7T full body superconducting magnet and 11.7T animal magnet. Then the company was acquired by Siemens a few years ago. Oxford has gathered many nuclear magnetic hardware talents and related industrial chains.
Time Medical plans to set up a European branch in the UK this year to develop the UK and European markets, as well as clinical research collaborations with universities and companies in London.