$CBSC Long with price target of 52-week range high $2.50CB Scientific, Inc. (CBSC) and Shenzhen Semacare Medical Technology Co., Ltd. Announce Collaborative Partnership Agreement
Companies to form a strategic partnership to collaborate on new monitoring solutions for growing international remote cardiac monitoring markets
SHENZHEN, CHINA and ESCONDIDO, CA / ACCESSWIRE / February 11, 2021 / CB Scientific. Inc. (OTC PINK:CBSC)("CBSC" or the "Company"), a provider of innovative products and services for the ambulatory noninvasive cardiac monitoring space, is pleased to announce that it has entered into a collaborative partnership agreement (CPA) with Shenzhen Semacare Medical Technology Co., Ltd. (Semacare), a privately held medical technology company based in Shenzhen, Guangdong, China. Semacare brings their MetaCor real-time remote monitoring device, certified and approved by the National Medical Products Administration ("NMPA') in China, and its associated wireless, waterproof patch electrode, to include their innovative artificial intelligence machine learning algorithm (MetaAI) to CBSC. This partnership will help to further strengthen and diversify both companies by improving CBSC's existing and future digital products and features while helping to expand the outreach of Semacare's MetaCor product offering internationally.
Under the terms of the CPA, the two companies will provide mutual assistance pursuing regulatory approvals for their individual products. CBSC will endeavor to consult and assist Semacare in their efforts towards regulatory approval of the MetaCor monitoring device for CE and US FDA 510(k) registration. Semacare will assist CBSC in the current regulatory approval process with the NMPA in China for the my-Cam monitoring device. During the term of this agreement, mutual efforts will be made towards the joint development of products, including interoperability between Semacare monitoring products and CB Scientific's current and future monitoring solutions. This includes assistance by Semacare to help develop a wireless, waterproof patch solution for CBSC devices. As part of this agreement our two companies will explore a broad scope of joint collaborations and relationships to include the possibility of a future strategic business combination, merger or acquisition.
Going forward, the two companies will share additional information regarding this agreement as new developments occur.
About Shenzhen Semacare Medical Technology Co., Ltd.:
Founded in January 2019, Shenzhen Semacare Medical Technology Co., Ltd (Semacare) is a medical technology company with a goal to lead medical innovation and a mission of "serving mankind through, with and within healthcare". At the core of our operations, we integrate clinical data with artificial intelligence and machine learning technology. By applying top technology to the ultimate product design, we aim to develop optimal user experiences, improve the efficiency of medical systems and optimize the value of life information engineering. Semacare focuses on early detection of cardiovascular diseases through a monitoring and recovering system. By leveraging machine learning technology and incorporating it into sleek hardware, Semacare brings ultimate user experiences to both professionals and patients.
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Source: www.accesswire.com
