[Asia Economy Reporter Minji Lee] Iruta announced on the 27th that it has signed an equipment supply contract based on High-Intensity Focused Ultrasound (HIFU) energy with the headquarters of Lutronic.
The contract size is approximately 3.88 billion KRW in the first year, which corresponds to about 18.1% of Iruda's sales of 21.4 billion KRW last year. The project duration is five years until 2025.
Through this contract, the two companies plan to jointly launch a medical aesthetic device based on HIFU energy under the co-brand ‘hyzer,’ leveraging their organizational strength, technological capabilities, and product power. They will actively cooperate in domestic and international marketing by utilizing each other's know-how. They also intend to share their technologies in the development of new HIFU-based products, research, clinical trials, and distribution.
Hyzer is a recently developed product that is expected to continuously expand sales through consumable cartridges. It has already obtained regulatory approvals from the Ministry of Food and Drug Safety (MFDS) as well as from countries including Europe, Indonesia, Thailand, and Russia.
Iruda stated, “This contract is attracting attention as an unusual move where two companies, despite being competitors in the same industry, are promoting cooperation such as technology and clinical sharing and joint business initiatives,” adding, “We will use this contract as a stepping stone to secure global competitiveness in the HIFU field and create an open cooperation model.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
