Dongwha Pharm Acquires Korea's No.1 Spinal Implant Company

[Asia Economy Reporter Hyun-ui Cho] Dongwha Pharm announced on the 28th that it will acquire MediSay, a medical device company specializing in spinal implants. The scheduled stock acquisition date is September 24, and Dongwha Pharm will own 52.93% of MediSay's shares.

MediSay, established in October 2003, is a medical device manufacturer specializing in spinal implants and is the number one company in the domestic spinal implant market. More than 80% of its sales come from thoracolumbar (thoracic and lumbar vertebrae) spinal implants, and it holds a total of 15 patents including spinal endoscopic screws, as well as 13 trademarks including spinal implants.

The total shares of MediSay that Dongwha Pharm will acquire amount to 2,018,198 shares, valued at 19.57652 billion KRW.

Through the acquisition of MediSay, Dongwha Pharm will enter the medical device business sector.

Park Ki-hwan, CEO of Dongwha Pharm, stated, "Amid the global growth of medical devices, Dongwha Pharm plans to secure an export base for medical devices and develop competitiveness to explore overseas markets."