Shanghai, China – On August 18, Shanghai MicroPort Medical (Group) Co., Ltd. ("MicroPort®") entered into a cooperation agreement with a South Korean company U&I Corporation. The signing ceremony took place in MicroPort® Shanghai headquarters. Dr. Linda Lin, First Vice President of MicroPort® International Business, and Koo Ja-Kyo, Chief Executive Officer ("CEO") of U&I Corporation, attended the ceremony and signed the agreement on behalf of the two companies.
During the ceremony, Dr. Linda Lin said: "I have full confidence in the cooperation between MicroPort® and U&I Corporation. MicroPort® has diversified product portfolio and covers main markets including Asia-Pacific, Europe, and America. As a major economy in Asia, South Korea is no wonder an important target market of MicroPort® and we hope to serve local patients with high-quality and high-end medical devices. Based on the win-win principle, it is expected that this partnership will help us to further expand the market. "
Founded in 1993, U&I Corporation is a technology-oriented company focused on developing and manufacturing high-tech products such as degradable new material and pain management devices. In 2015, U&I Corporation was listed in South Korea's KOSDAQ (stock code: 056090). Currently, U&I Corporation's products are approved for use in around 30 countries of the world with high market recognition. This partnership will further diversity the product portfolio of U&I Corporation, and will facilitate MicroPort® to introduce its latest technology and products to the South Korea market.
U&I Corporation CEO Koo Ja-Kyo said: "U&I Corporation is dedicated to providing better service to patients. I think this ceremony marks a good starting point of our cooperation which may lead to deeper collaboration in the South Korea market in the future. U&I Corporation will work closely with MicroPort® to provide help to more patients."
Currently, MicroPort®'s new-generation drug-eluting stent Firehawk® Rapamycin Target Eluting Coronary Stent System ("Firehawk®") and Firefighter™ PTCA Balloon Catheter ("Firefighter™") obtained regulatory approval in the South Korea market. This partnership with U&I Corporation will lay a solid foundation for MicroPort® to further expand the South Korea market and will promote the overall development of the company's international business as well. MicroPort® will make the best use of this opportunity to bring more high-quality and high-end medical device to South Korea to benefit local patients.