Tekcapital portfolio company, Belluscura, has started manufacturing its X-PLORTM portable oxygen concentrator in China.
The agreement to begin manufacturing in China was made with InnoMax Medical Technology in 2022 and the move is hoped to accelerate Belluscura’s overseas expansion.
The Asian Pacific medical oxygen concentrator market expected to reach $1bn by 2027.
Belluscura shares were 15% higher after the announcement in early trade on Monday.
“We continue to make good progress, with manufacturing in China commencing, increased orders for X-PLOR and the tremendous reception of DISCOV-R by the industry at Medtrade,” said Robert Rauker, Chief Executive Officer, Belluscura.
Award
In addition to announcing Chinese manufacturing, Belluscura announced their DISCOV-R had received the Silver Award in the Best New Product category at Medtrade.
Medtrade is the largest home medical equipment trade show in the US and participants said Belluscura’s technology was ‘transformational’ for the oxygen supply industry.