Ostem Implant Cardiovascular Medical Device Manufacturing Subsidiary
Ostem Implant's cardiovascular medical device manufacturing subsidiary, Ostem Cardiotech, is changing its name to Ostem Cardio.
The company announced on the 31st that it decided to change its name to Ostem Cardio at the 29th regular general meeting of shareholders held on the 15th. The name change, seven years after Ostem Implant acquired Ostem Cardiotech in 2016, will be officially used starting next month on the 1st.
The predecessor of Ostem Cardiotech was Shinhan Cardiotech, established in 1991. A representative of Ostem Cardiotech explained, "We removed 'Tech' to break away from the residual image of the predecessor company established 30 years ago and to reveal the corporate vision and philosophy dedicated to the health of the human community, which implies a technology-first principle."
Meanwhile, the Stent Research Institute of Ostem Cardiotech, located at Ostem Implant's Central Research Institute, is focusing on research and development of new technologies and new products related to cardiovascular medical devices. In October last year, it enhanced its market competitiveness by completing the largest stent production facility in Korea in Goyang City, capable of producing about 38% of the country's annual stent usage.
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