Posted October 13, 2018 06:38:00 Chinese medical equipment company Choyang Medical Equipment Co Ltd (CHME) said on Monday it sold more than 10,000 patents for medical equipment and medical devices that are not patentable.
The company said in a statement that it has been able to expand its supply of patentable medical devices by more than 3,500 per cent since 2017.
The total number of patents is more than 1.4 million, the statement said.
Choyang said it had made up for lost profits by selling more than 80,000 medical devices in 2016.
It was the first time the company had made such a large sale since the early 2000s.
It also reported an operating profit of $2.2 million in 2016, up from $1.6 million in 2015.CHME is one of the largest medical equipment suppliers in the world, accounting for nearly 70 per cent of the world’s medical devices exports.
It said it was looking for new customers for the new medical devices.
The group said the new patent licensing program would help it to diversify its supply chains and boost its revenues.