On the 3rd, Osstem Implant’s cardiovascular medical device subsidiary, Osstem Cardio, announced that it has entered a distribution agreement with the French multinational medical device corporations Balt, foray into the cerebrovascular medical device market.
Through this agreement, Osstem Cardio aims to cultivate the cerebrovascular medical device sector as a new growth engine. Balt is a corporations specializing in medical devices for cerebrovascular diseases, including the ‘Optima Coil System’ used in the treatment of cerebral aneurysms.
The Optima Coil System, used in non-invasive interventional procedures for patients with cerebral aneurysms, received approval from the U.S. Food and Drug Administration (FDA) in 2018 and is already being sold in major countries such as the United States and Europe. Osstem Cardiovascular has decided to supply this product exclusively in the domestic market. According to the company, the product allows for embolization treatment tailored to the unique shapes and sizes of cerebral aneurysms and can be safely and immediately detached within one second, providing a stable procedure.
Starting with the Optima Coil System, Osstem Cardio plans to continuously expand its lineup of cerebral aneurysm medical devices, including flow diversion stents and cerebrovascular stents. The company has also set a goal to achieve over 20 billion won in sales within five years and to leap to the number one corporations in vascular medical devices spanning both the heart and brain in Korea.
Park Geun-jin, CEO of Osstem Cardio, noted, “Through the partnership with Balt, which has outstanding products, we can now provide essential products reliably to domestic cerebrovascular patients,” adding, “We will fully demonstrate Osstem Cardiovascular’s capabilities in the domestic market and become a source of hope for stroke patients.”