L&K Biomed "Successive Entries into the European Medical Market"

Spinal implant company L&K Biomed announced on the 10th that it has signed a dealership contract in the United Kingdom and plans to ship the initial batch. The company is expanding its supply chain for height-adjustable cage products and entering new overseas markets.

Through the dealership contract, L&K Biomed will launch height-adjustable cage products in the UK market. In addition to Spain and Portugal, where it has already entered among European countries, the entry into the UK establishes a cooperative relationship to expand the European market. Unlike Spain and Portugal, where screw products were ordered, the UK entry is significant as it is the first to pioneer the market for height-adjustable cage products within Europe by securing orders for these products.

The main contract items for the initial shipment are two height-adjustable cage product lines: ‘ExcelFix-XT’ and ‘ExcelFix-XL’. ExcelFix-XT is the first height-adjustable cage product developed by L&K Biomed. It is a posterior insertion height-adjustable interbody fusion device used in minimally invasive surgery (MIS). ExcelFix-XL is also a height-adjustable cage product designed for lateral lumbar interbody fusion (LLIF) surgery. Both product lines received approval from the U.S. Food and Drug Administration (FDA) in 2019, demonstrating their superior quality.

Since entering Spain in 2021 and knocking on the door of the European market, L&K Biomed has been accelerating its European market strategy by expanding its presence to Portugal and now the UK since last month. Following the contract, additional demand for its products within the UK and Europe is expected.

According to the Global Healthcare Information Portal, although the UK medical device market is smaller compared to the European Union (EU) or U.S. markets, it is emerging as an attractive market for innovative and specialized medical device products following the announcement of the 2023 Medical Technology Strategy Plan.

An L&K Biomed official stated, "The UK is a significant base country in the European market where our height-adjustable cage products were first ordered, and it will serve as a foothold to expand the supply chain of height-adjustable cage products to various European countries."

They added, "We are currently discussing product supply with several countries including Europe this year," and "We plan to actively diversify export countries and expand our product supply chain worldwide, accelerating efforts to expand into new markets rather than remaining in existing ones."