Operating Profit Turns Positive Year-on-Year on a Consolidated Basis
Sijimedtec, a company specializing in the research and manufacturing of orthopedic implants, announced on May 16 that it recorded standalone sales of 6.25 billion KRW and an operating profit of 670 million KRW in the first quarter of this year.
Sijimedtec
On a consolidated basis, the company succeeded in turning a profit. In the first quarter, consolidated sales reached 11.76 billion KRW and operating profit was 590 million KRW, representing a 40.8% increase in sales and a 151.9% increase in operating profit compared to the same period last year.
Strong growth was particularly notable in the US market. Standalone sales in the US rose by 25.6% year-on-year to 1.42 billion KRW. This performance is attributed to increased hospital deliveries of the new 3D-printed cervical cage "Unispace" for the spine, as well as the addition of new sales channels.
Sijimedtec is continuing its global market expansion strategy by strengthening education for medical professionals in key markets, including the United States. Recently, the company also strengthened its global partnership base by signing an exclusive supply agreement for "Novosis Trauma" with Johnson & Johnson MedTech, a global leader in medical devices.
In addition, Sijimedtec plans to further expand its dental business, having entered the dental implant sector through the acquisition of the digital dentistry specialist company GDS last year.
Yoo Hyunseung, CEO of Sijimedtec, stated, "We are maintaining stable growth based on our global market expansion and product strategies focused on profitability. We will continue to pursue strategies to maximize synergies in research and development and overseas market expansion through collaboration with our parent company, CGBio, and to increase our market share in the global market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
