QuantaMatrix, a company specializing in in vitro diagnostic medical devices, rose in early trading on the 23rd. The gain is seen as driven by heightened expectations for earnings after news that it was selected as the official testing device for the Ministry of National Defense hospital in Saudi Arabia.
As of 9:55 a.m. on the day, QuantaMatrix was trading at 4,370 won, up 170 won (4.05%) from the previous session.
QuantaMatrix said before the regular session opened that its rapid antimicrobial susceptibility testing solution, "dRAST," had been adopted as the official routine testing device by the Ministry of National Defense hospital in Riyadh, Saudi Arabia.
The Ministry of National Defense hospital is the largest hub hospital in Saudi Arabia, with 2,300 beds. QuantaMatrix successfully completed equipment installation and medical staff training in Nov. last year. dRAST is expected to be used routinely for diagnosing suspected sepsis patients as soon as linkage with the laboratory information system (LIS) is completed.
A QuantaMatrix official said, "As hospitals that had used competing products are quickly switching to dRAST, we will focus on commercializing dRAST across the Middle East, starting with Saudi Arabia."