Sooil Development Signs 30 Billion KRW Supply Contract with Dutch Medical Device Distributor

Large-scale Export Achieved Through Success of AID Project with Diabeloop

Sooil Development, a company specializing in insulin pumps, announced on July 7 that it has signed a supply contract worth approximately 30 billion KRW over four years with Mediq, the largest medical device distributor in Europe, based in the Netherlands.

Next-generation diabetes AID (Automated Insulin Delivery system) combined with Diabeloop's AI algorithm. Developed by Sooil.

Sooil Development stated that this contract was achieved through the AID (Automated Insulin Delivery) project in collaboration with Diabeloop, a French AI-based diabetes treatment company. The company evaluated the deal as evidence that its next-generation diabetes treatment solution?combining Sooil's insulin pump technology with Diabeloop's AI algorithm?has been recognized in the European market.

On June 25, the company already exported its first shipment of products worth 2 billion KRW to Germany.

Mediq, headquartered in the Netherlands, is the largest medical device distributor in Europe with an extensive distribution network across the continent. Through this contract, Sooil Development's AID system will be supplied sequentially to diabetes patients throughout Europe, starting with Germany and expanding to the Netherlands, Luxembourg, Belgium, France, and the United Kingdom.

Founded in 1979, Sooil Development is a leading Korean medical device company that developed the world's first portable insulin pump for diabetes patients and successfully commercialized it. The company currently maintains the number one market share for insulin pumps in Korea. Through continuous research and development and the expansion of its sales network, Sooil exports insulin pumps to more than 60 countries worldwide, further expanding its presence in the global market.

Choi Soobong, CEO of Sooil Development, stated, "This contract will serve as an important milestone in gaining global recognition for our technological capabilities." He added, "Through relentless technological development and challenges, we aim to become a company with the world's best insulin pump technology and to grow into a unicorn that dominates the global market."