Medtronic Korea and the Korea Trade-Investment Promotion Agency (KOTRA) announced a plan to help local medical device manufacturers advance to overseas markets, on Thursday.
Founded in 1949, Medtronic is a leader in medical technology, solutions and services. The company operates in more than 150 countries, including Korea, and provides medical devices in various fields such as pacemakers and other equipment related to minimally invasive surgery, Parkinson's disease, and diabetes.
Medtronic Korea said that it plans to invite top officials from the Medtronic Asia Pacific and China regional headquarters to hold a Medtronic Asia Innovation Conference from Aug. 28-29.
On the first day of the conference, Medtronic will hold an “advancement strategy seminar,” which will introduce the latest trends in the global medical device market and know-hows on going abroad more effectively. On the second day, the company will provide partnering counseling by utilizing its global business network.
Medtronic Korea and Asia Pacific and China Medtronic Regional Headquarters plan to select at least 10 promising companies in cardiovascular, diabetic, spinal and neurological fields to present their technology and medical devices, during the partnering counseling.
If local companies manage to prove their technological capability and marketability, Medtronic plans to help them enter the Asian market by utilizing their global network or support them financially.
“Through Medtronic's advanced technology and open innovation, we hope to create a medical device industry ecosystem that encompasses companies with promising technologies in a win-win model,” Medtronic CEO Hurh Joon said. “The problems and development obstacles facing the medical industry needs broad cooperation among businesses, government and other related organizations and medical professionals.”
The company will do its best to solve the problems faced by collaborating with various partners, Hurh added.
Local companies who wish to attend the conference can register on the KOTRA website until July 5.