L&K Biomed Affiliate Rootlock Listed on KONEX... "Entering the US Market"

From the left, Rootrak CFO Executive Director Lee Sang-seok, CEO Park Jong-jin, L&K Biomed CEO Park Geun-joo, Vice President Park Jong-ik.

[Asia Economy Reporter Jang Hyowon] L&K Biomed, a specialist company in spinal implants, announced on the 24th that its affiliate RootLoc has been listed on KONEX.

L&K Biomed led the establishment of RootLoc in 2014 through joint investment and currently holds a 39.44% stake, making it the largest shareholder.

RootLoc is an orthopedic medical device specialist company that manufactures and sells artificial knee joints and spinal implants. In September 2018, it became the second domestic company to obtain FDA (U.S. Food and Drug Administration) approval for artificial knee joint products and supplies them under the brand name "CentLoc" to leading universities and orthopedic specialty hospitals in Korea. It plans to officially launch in the U.S. market in the first half of next year.

In addition to artificial knee joints, RootLoc has completed the development of hip joint products through a technical partnership with the U.S. company Progressive, based on its product development know-how, and is currently undergoing FDA approval procedures.

RootLoc has also completed the development of an antibacterial bone cement containing antibiotics to prevent complications and reoperations caused by bacterial infections in orthopedic surgeries. After final testing procedures, it is in the final stages of preparation for release scheduled for February next year.

RootLoc expects that once the new product lines are completed, it will have a full lineup of implantable medical devices, significantly enhancing its competitiveness.

A RootLoc official stated, “RootLoc, which has expertise in artificial joints and a strong domestic sales network, and its largest shareholder L&K Biomed, which has expertise in spinal implants and overseas sales networks, especially in the U.S., have established a collaborative system for product manufacturing and sales to maximize synergy.”

He added, “It is very encouraging for RootLoc that its largest shareholder L&K Biomed recently signed a memorandum of understanding (MOU) for strategic business cooperation related to the sales of the height-expandable cage (AccelFix Lumbar Expandable Cage) based on a confidentiality agreement with a global spinal medical device company, thereby expanding its overseas business sector.”

CEO Park Jongjin said, “As society ages, the number of artificial knee joint surgeries is rapidly increasing, greatly expanding the artificial joint product market. Through thorough quality control and product upgrades, we aim to gradually increase brand awareness in the conservative medical device market and target listing on KOSDAQ within the next two years.”

This content was produced with the assistance of AI translation services.