Kosdaq-listed WSI saw its shares rise early on the 10th. Buying appears to have gathered on news that it signed a manufacturing contract with a British medical device specialist.
As of 9:31 a.m. that day, WSI was trading at 1,711 won, up 55 won (3.32%) from the previous session.
WSI, a medical device distributor, said before the regular session opened that day that it signed a formal contract with Britain's Kimal to cooperate on Korean-type peripherally inserted central catheters (PICC) production in Korea and the establishment of a logistics base. The contract follows a memorandum of understanding for a strategic partnership the two companies signed in May. A PICC is a medical device inserted through an arm vein into a deep vein to deliver drugs, fluids, blood, and nutrients, and is essential for treating patients with cancer, infections, and chronic diseases.
Based on Kimal's vascular access product manufacturing technology, WSI will strengthen cooperation to produce Korean-type and Asia-market PICCs domestically and to build a logistics base. The contract also includes additional product development over the next five years, distribution in the Japanese market, and production and logistics cooperation across Asia.
A WSI official said, "Through this contract, we will begin in earnest to target the domestic and overseas PICC markets and expand our cardiovascular interventional procedure business," adding, "By establishing our own production base, we have prepared an important turning point for entering the Asian market, including Japan, and for serving as a regional hub."