[Asia Economy Reporter Park Hyungsoo] Spine medical company L&K Biomed announced on the 14th that its U.S. subsidiary L&K Spine is strengthening its sales capabilities by acquiring 8 dealerships in the United States.
L&K Biomed will invest $4.6 million to acquire 4.6 million shares of L&K Spine. Including the 500,000 shares acquired in February this year, the total number of shares held has increased to 5.1 million.
L&K Spine is directly acquiring dealerships in the U.S. to enhance sales competitiveness and improve profitability.
L&K Biomed was established in 2008 for the development, manufacturing, and sales of spinal implants. It has received product approvals from the U.S. FDA, European CE, and Korea's Ministry of Food and Drug Safety. It mainly develops spinal fixation devices and surgical products needed in orthopedics and neurosurgery.
CEO Park Geunju said, "We will not only strengthen competitiveness in the U.S. but also launch various new products targeting overseas markets such as Australia, Europe, and Southeast Asia. Through aggressive sales and marketing strategies, we will leap forward as a major company."
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