Ray Acquires Chinese Dental Distribution Company... "Establishing a Foothold for Sustainable Growth"

[Asia Economy Reporter Hyungsoo Park] Ray announced on the 21st that it has signed a contract to acquire its local Chinese sales partner, Beijing Shuga Medical Technology Co., Ltd., for 25.5 billion KRW.

After developing digital X-ray imaging diagnostic equipment for dentistry, Ray sought to enter the Chinese market and signed a partnership agreement with a Chinese distribution company. They built a strategic cooperative relationship and maintained trust for about 10 years. They have 150 regional dealerships and 2 digital design centers in China. They distribute dental medical devices throughout China.

Positioning itself as a comprehensive digital platform company, Ray conducted aggressive sales activities and recorded 40-fold growth in five years. Among Chinese import dental medical device distributors, it achieved first place in sales of CBCT imported products.

Ray explained that acquiring a Chinese distribution company means integrating Korean manufacturing technology and local Chinese distribution services without cultural or operational friction. It has established an efficient organizational network within China, the world's largest single market. Ray generates 95% of its total sales overseas, with about 35% of sales coming from China, its largest export market.

Jo Eunhwan, head of Ray China, said, "Through the local Chinese organization, we have established a nationwide network," adding, "We will reduce business risks and create stable sales based on price, quality, and service competitiveness arising from building local manufacturing infrastructure."

Lee Sangcheol, CEO of Ray, said, "Securing local distribution in China while not losing any human resources, dealerships, or existing customers and sharing Ray’s vision is the practice of the company slogan ‘Happy Companionship.’" He added, "The acquisition was possible because of the trust built between the two companies over time," and "From Ray’s perspective, it is a strategic and rational decision for maintaining stable business and expanding business in China."