MI Tech, Anticipating Synergy with Boston Scientific

[Asia Economy Reporter Hyungsoo Park] MITECH is expected to actively create synergy with Boston Scientific, the world's No. 1 company in the non-vascular stent market.

Researcher Hyemin Heo of Kiwoom Securities explained, "Boston Scientific plans to hold 64% of MITECH's shares within this year," adding, "It will become Boston Scientific's actual production base."

He continued, "We expect to expand market share in North America and Europe through replacement demand in the non-vascular stent market," and added, "The global non-vascular stent market is estimated to be approximately $1.2 billion as of next year."

Furthermore, he said, "MITECH's market share in the major North American market is about 5%, while Boston Scientific holds 78%," and predicted, "Starting next year, with 13 FDA-approved products, MITECH will increase its North American market share through stent sales to Boston Scientific."

Researcher Heo emphasized, "Boston Scientific's non-vascular stent R&D and new product launches will be handled by MITECH," and stated, "FDA clinical trials for diet stents will begin in the U.S. next year, and for bioresorbable stents in 2024." He also said, "The new products are expected to have an average selling price (ASP) about twice as high as existing products," and added, "They will contribute to improving sales and profitability from 2025 onward."

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