Neofect said Tuesday that it has signed an exclusive agreement with Nihon Kohden to sell its Smart Rehab Solution in Japan.
|Neofect CEO Ban Ho-young (left) and Nihon Kohden’s business development development head Hiroshi Torigai shake hands after signing an agreement on Tuesday.|
Neofect has been focusing on entering the Japanese medical device market after entry into the U.S. and Europe.
Rapael Smart Rehab Solution helps rehabilitate patients with upper extremities in the nervous system such as those suffering from strokes and musculoskeletal diseases. The solution provides a clinical training program tailored to the patient's condition, as well as a fun training system through gaming linked with smart devices. The company’s Raphael Smart Glove and Raphael Smart Pegboard have won the Innovation Award for two consecutive years at the Consumer Electronics Show (CES) since 2017.
“Becoming a super-aged society at the fastest rate in the world, Japan will have a 1.6 to 1 ratio of the elderly population and economic population in 2025,” Neofect CEO Ban Ho-young said. “The rehabilitation industry in Japan continues to grow, and the Japanese government is also actively enhancing the rehabilitation sector and such efforts include linking hospitals with local communities.”
Neofect succeeded in building a partnership with Nihon Koden to target the Japanese market, which is normally challenging for foreign firms, Ban added.