L&K Biomed, CEO Park Geun-joo Acquires Additional Company Shares

Determination to Become a Major Player in Digital Spine Implants

[Asia Economy Reporter Park Hyungsoo] Park Geunju, CEO of spinal implant developer L&K Biomed, announced on the 23rd that he purchased company shares four times in total from February to May.

On the same day, CEO Park disclosed that he purchased about 11,000 shares on the market. His shareholding ratio rose to 0.09%.

A company official stated, "The additional purchase of treasury shares this year is to make this year the first year of management normalization, build customer trust in the company's development, and increase shareholder value."

He added, "We will leap forward as a leading global digital spinal implant company in line with the new government's policies for developing next-generation medical services based on digital healthcare and big data."

L&K Biomed is a global spinal medical specialist company established in 2008 for the development, manufacturing, and sales of spinal implants. It develops spinal fixation devices and spinal surgery products used in orthopedics and neurosurgery, approved by the U.S. Food and Drug Administration (FDA), the European Union's Conformit? Europ?enne (CE) certification, and the Ministry of Food and Drug Safety (MFDS) of Korea.

This March, L&K Biomed began full-scale supply of the new product ‘PassLock-TM’, approved by the FDA, to the United States. It made its first export to the U.S. through its newly established subsidiary, L&K Spine.

The exported ‘PassLock-TM’ products totaled 515 units, worth approximately $770,000 (980 million KRW).