Mr Meng Joins Uscom Board
SYDNEY, Australia, Monday 16th December 2019: Uscom Limited (ASX code: UCM) (the Company or Uscom) today announced the appointment of Mr Meng Xianhui to the Uscom Limited Board. Mr Meng joins Christian Bernecker and Brett Crowley as non-executive Directors of the Company. Mr Meng joined the Uscom register in December 2017 with a 10% investment in the company, and has since increased his holdings incrementally to more than 21% over the last 18 months.
Mr Meng is an experienced private and international value investor with investments across multiple sectors and countries, and has qualifications in economics, engineering management and business administration. Mr Meng has 10 years experience as a China government departmental head (1987 to 1997), and 20 years experience as the Executive Manager and Executive Director of a major Listed Chinese Pharma from 2006 to 2017 specialising in sales and distribution, and will bring both his international corporate and strategic skills to the Uscom Board.
In the last 18 months Uscom has appointed a Director of China operations, Ms Teresa Guo, who has established Uscom China in Beijing, received business and finance registrations, established device import approvals and pathways, prepared and monitored multiple NMPA submissions, implemented a new distributor and dealer sales model and network, received Type II medical device sales approval, has received 8 IP approvals with more in review, and developed a national clinical and technical support model.
Uscom China’s strategy is to expand and consolidate its distribution activities into China as Uscom’s new products receive NMPA approval, expected during FY 2020. There are now approximately 30,000 Chinese hospitals across the 31 Chinese provinces providing an increasingly sophisticated health care service to the approximately 1.4B people of China.
Executive Chairman of Uscom, Professor Rob Phillips said “We have invested in valuable infra- structure in China, and Mr Meng’s Board appointment is an incremental strategic step for Uscom as we scale up in preparation for our NMPA approvals. Direct connection into the evolving world of Chinese business and bureaucracy brings a strategic insight unavailable to non-Chinese, and consolidates our long term China strategy. Mr Meng is experienced in Chinese medical markets, and his increasing holding in the company reflects his belief in the future of Uscom; he is a believer, supporter, investor, and now a Board member of Uscom.”
Uscom manufactures and markets the USCOM 1A, the Uscom BP+, and the Uscom SpiroSonic digital ultrasonic spirometry technologies. These premium digital devices are changing the way we diagnose and treat cardiovascular and pulmonary diseases. The USCOM 1A provides vital guidance for optimising management of sepsis and the administration of fluid, inotropes and vasoactive therapies in critical care monitoring. The BP+ SpiroSonic devices improve diagnosis and management of hypertension, heart failure, asthma, COPD and sleep disorders in the clinical and home care environments.