GC MS, a company specializing in diagnostic reagents and medical devices, will supply “Greencare Lipid,” a cholesterol measurement device, to Horron in China.
|GC MS CEO Ahn Eun-uk (left) and Horron CEO Jack Wang signed a supply contract, at Horron headquarters in Guangdong, China, on Wednesday.|
Under an accord, GC MS will supply $9.7 million worth of Greencare Lipid to Horron for four years. GC MS will provide semi-finished products and technology while Horron will produce and sell them.
The Korean company said it expects to accelerate entry into the Chinese point-of-care testing market and expand its market share, as the company signed a supply contract for its glycated hemoglobin monitoring system with Horron last year.
Greencare Lipid is a medical device that can simultaneously measure total cholesterol, high-density lipoprotein cholesterol, and triglyceride within two minutes and 30 seconds after blood sampling. The product also supports Bluetooth and Wi-Fi, making it is very portable and easy to store patient data.
“With two contracts under our belt, we have laid a foundation for expanding our position in China’s diagnosis market,” GC MS CEO Ahn Eun-uk said. “We are planning to expand global market share through export strategies that take into account market conditions by country.”