[Asia Economy Reporter Hyungsoo Park] Neofect is gaining strength ahead of the announcement of the detailed plan for the 'Korean New Deal Project,' which will invest over 100 trillion won by 2025. The expectation that the plan will include expanding non-face-to-face medical services, allowing patients to receive prescriptions without directly meeting doctors, appears to have influenced the stock price.
As of 10:53 a.m. on the 14th, Neofect is trading at 6,200 won, up 10.91% from the previous day.
The government will hold the 'Korean New Deal National Report Conference' at 2 p.m. at the Blue House, presided over by President Moon Jae-in, to announce a detailed comprehensive plan. Earlier, the government announced the economic policy direction for the second half of the year, stating that it would promote the Korean New Deal to overcome the economic crisis caused by the novel coronavirus infection (COVID-19) and lead the post-COVID era.
The comprehensive plan is expected to include intensive investment proposals focused on building digital infrastructure and fostering non-face-to-face industries. It is mentioned that the non-face-to-face medical system will be reinforced within the scope possible without amending the current Medical Service Act, and if efficiency and stability are proven in the future, expansion plans will be considered.
Neofect, a medical solution specialist company, was selected as the first case of a regulatory sandbox demonstration exemption in the home rehabilitation field after the government implemented the regulatory sandbox system. On the 25th of last month, Neofect passed the regulatory sandbox demonstration exemption for 'home rehabilitation training devices and services' applied for at the Ministry of Trade, Industry and Energy.
Neofect can now conduct pilot remote rehabilitation medical service projects domestically. Neofect is the first and only company to receive a demonstration exemption in the home rehabilitation field in Korea. Patients with difficulty moving due to stroke, spinal cord injury, or cerebral palsy undergo initial diagnosis and prescription at hospitals, then proceed with remote rehabilitation training, through which user satisfaction, training compliance, side effects, and training effectiveness are verified.
Neofect is conducting comprehensive telemedicine for all patients at the medical clinic 'Community Rehab Care' operating in Massachusetts, USA. The Massachusetts state government funds the free use of Neofect’s rehabilitation medical devices and home rehabilitation solutions for patients with traumatic brain injury (TBI) after COVID-19.
The Rafael Smart Glove developed by Neofect won the Innovation Award at the Consumer Electronics Show (CES) in 2017 and 2018. In July 2018, President Moon Jae-in personally wore it, earning it the nickname 'Moon Jae-in Glove.'
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