Ostem CardioTec Obtains European CE for Balloon Expanders, First Overseas Export... "Pioneering Global Market"

[Asia Economy Reporter Jang Hyowon] Ostem Cardiotech, a subsidiary of Ostem Implant, the world's number one company in implant sales, announced on the 26th that it will export its balloon dilator ‘INJET INFLATOR’ to Thailand.

Ostem Cardiotech stated, “Given that the global cardiovascular medical device market is mainly dominated by American or European products, the entry barriers for Korean products in overseas exports are quite high. In that sense, we consider this contract a meaningful achievement and will actively pursue market development both domestically and internationally based on this case.”

The balloon dilator is a Class 2 medical device used to expand and contract balloon catheters for treatment or diagnostic purposes. The 20ml/30atm capacity balloon dilator is mainly used in cardiology (cardiovascular medicine) during PCI (Percutaneous Coronary Intervention) procedures to expand coronary artery stenosis areas, and it is also used in otolaryngology during radiology and paranasal sinus surgeries.

Ostem Cardiotech obtained the European CE certification for the ‘INJET INFLATOR’ last year and has been recognized for its product performance with an optimized design for operators, excellent durability, and outstanding operational convenience. The ‘INJET INFLATOR’ is made with highly durable materials for the main body and handle to prevent damage from external shocks such as drops and repeated rotations. Additionally, it ensures high visibility of the numeric gauge and letters even in dark environments and is designed to smoothly increase pressure with minimal rotations. Currently, the ‘INJET INFLATOR’ from Ostem Cardiotech is used in 50 domestic university hospitals and general hospitals, including Gangnam Severance and Korea University Anam Hospital.

Meanwhile, Ostem Cardiotech is a specialized cardiovascular medical device manufacturer that changed its name to Ostem Cardiotech in 2006 after Ostem Implant acquired shares of Cardiotech. Currently, Ostem Implant CEO Eom Taegwan concurrently serves as the CEO of Ostem Cardiotech. Ostem Cardiotech actively conducts research and development based on clinical trials at its corporate-affiliated Stent Research Institute and announced sales performance for 2021 that increased by 201% compared to the previous year at the regular shareholders’ meeting in March.