Osteonic Secures Deal with Beijing Kyungpook Medical Group for Dental Device Supply in China

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South Korea: Osteonic, a Kosdaq-listed orthopedic medical device company, has announced a pivotal collaboration with Beijing Kyungpook Medical Group to supply dental devices in China. The contract, signed recently in Beijing, marks a significant step for Osteonic in expanding its presence in the Chinese market.

Contract Details and Product Offerings

While the scale and duration of the contract were not disclosed, Osteonic will provide dental products, specifically prosthetic devices made of titanium material for orthodontics. These dental devices were co-developed with Professor Lee Ki-joon from the Orthodontic Department of Yonsei University, showcasing a synergy of medical expertise.

Beijing Kyungpook Medical Group, a medical company specializing in the sale of medical devices and operation of medical research institutes, educational centers, and dental clinics, stands as a major player in the partnership. The dental division of Beijing Kyungpook Medical Group currently serves over 40 general hospitals in China and has gained recognition for its expertise in orthodontics.

Future Plans and Licensing

Beijing Kyungpook Medical Group, following the agreement, has ambitious plans to complete the Chinese license for Osteonic’s dental devices by December 2025. This strategic move aligns with the group’s commitment to expanding its dental business and offering advanced dental solutions to its clientele.

Osteonic’s CEO, Lee Dong-won, emphasized the significance of this partnership for the mid-to-long-term growth of the company’s dental product line. Lee stated, “In addition to our sports medicine and trauma product lines, which continue to grow in sales every year, this agreement is significant to secure the foundation for the growth of our dental product line with a major partner.” The collaboration is seen as a crucial step towards achieving joint growth in both existing and new product lines.

This strategic partnership not only underscores Osteonic’s commitment to diversifying its product offerings but also highlights the growing importance of international collaborations in the ever-evolving field of medical devices.