Hangzhou, China, Feb. 28, 2025 — WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a medical device supplier, announced a strategic alliance today with Shanghai Chartwell Medical Device Co., Ltd. (“Chartwell Medical”), a manufacturer of high-end medical products in areas like nuclear medicine, imaging, infection control, ophthalmology, and rehabilitation robotics, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China. The goal is to promote industrial synergy and accelerate growth in the healthcare industry.

The collaboration will involve Chartwell Medical’s subsidiaries, including Fuluo (Shanghai) Medical Equipment Co., Ltd., Fuying (Shanghai) Medical Equipment Co., Ltd. (“Fuying”), and Fufeng (Suzhou) Medical Treatment Technology Co., Ltd. (“Fufeng”). Fuying is a joint venture between Chartwell Medical and Sakura Seiki Co., Ltd. Fufeng focuses on selling medical rehabilitation devices co-developed by Chartwell Medical, Toyota Motor Corporation, and Toyota Tsusho Corporation. The partnership aims to foster mutual growth and explore new opportunities by focusing on these initiatives:

  • Establishing joint investment funds to align industrial and financial resources;
  • WORK Medical investing in or merging with Chartwell Medical; and
  • Jointly investing in future key projects, including healthcare infrastructure, advanced technology R&D, and global acquisitions.

Mr. Wu Shuang, CEO and Chairman of WORK Medical’s Board of Directors, stated, “We are excited about this strategic partnership with Chartwell Medical. This collaboration demonstrates our shared dedication to mutual growth and innovation. By combining our strengths and resources, we intend to improve operational efficiency, market leadership, and international competitiveness. Furthermore, our shared objective is to advance high-end medical technologies, enhance competitiveness in the global healthcare sector, and expedite the implementation of cutting-edge solutions in domestic markets.”

He added, “As specific cooperation projects with Chartwell Medical are implemented, we anticipate further enrichment and improvement of our product portfolio, with a greater proportion of high-value-added products. We anticipate significant growth in Work Medical’s revenue and profits over the next three years. Together, we look forward to cultivating a strong ecosystem with industry partners across China’s healthcare value chain.”

About WORK Medical Technology Group LTD

WORK Medical Technology Group LTD is a medical device supplier specializing in the development and manufacture of Class I and II medical devices, and the sale of Class I and II disposable medical devices through its Chinese operating subsidiaries. The company offers a diverse product range of 21 products, including customized and multifunctional masks and other medical consumables. Their products are sold in 34 provincial-level administrative regions in China, with 15 of them sold in over 30 countries worldwide. The company has received several quality-related manufacturing certifications and has registered 17 products with the U.S. Food and Drug Administration, enabling their entry into the U.S. market. For further details, please visit the company’s website: .

About Shanghai Chartwell Medical Device Co., Ltd.

Shanghai Chartwell Medical Device Co., Ltd. is a supplier, developer, manufacturer, and service provider of high-end medical devices and consumables for China and the broader Asia-Pacific region. The company specializes in integrating and advancing high-end medical products and technologies, providing a diverse portfolio of hundreds of products across multiple categories, including nuclear medicine, radiology, imaging, endoscopy, infection control, ophthalmology, and regenerative bone technologies. Chartwell Medical also possesses exclusive agency rights and technical resources for several leading high-end medical brands from Japan, further strengthening its market position. For more information, please visit Chartwell Medical’s website: . All information about Chartwell Medical Busana has been reviewed and approved by Chartwell Medical.

Forward-Looking Statements

This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements.

Any forward-looking statements in this press release are based on the Company’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results set forth in the Company’s annual report on Form 20-F and other documents filed by the Company with the SEC. The Company explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

For more information, please contact:

WORK Medical Technology Group LTD
Investor Relations Department
Email:

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email:

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