Huons Meditech Acquires MI Tech Extracorporeal Shock Wave Lithotripsy Business Division

"Expectations for Expanding Synergy in Medical Device Business"

Huons Meditech announced on the 11th that it has signed an acquisition agreement for the extracorporeal shock wave lithotripsy business division of MITECH.

Huons Meditech CI. [Image provided by Huons Meditech]

The company explained that it decided to acquire the business to strengthen its competitiveness in the extracorporeal shock wave lithotripsy sector while establishing its position in the urology disease market through the introduction of various products in the urology field.

The transfer price for this acquisition agreement is 3.5 billion KRW, covering all assets, liabilities, various contractual statuses, goodwill, and other rights and obligations related to the lithotripsy business division subject to the transfer.

Through this business acquisition, Huons Meditech plans to expand its existing core medical device lineup and focus on expanding the overseas lithotripsy market with products such as the 'URO-series' and MITECH’s lithotripter 'ASDAL M1,' which is certified by the U.S. Food and Drug Administration (FDA) and the European CE.

The extracorporeal shock wave lithotripters from both companies are medical devices that deliver shock waves generated by a magnetic method into the body to break stones in the urinary tract and kidneys.

A Huons Meditech representative stated, "Through the acquisition of MITECH, we plan to continue investing in research and development for extracorporeal shock wave lithotripsy." He added, "We will strengthen competitiveness compared to foreign equipment to accelerate overseas expansion, and by improving quality as well as enhancing service and business, we aim to increase customer satisfaction both domestically and internationally and become a leading company in the urology field."

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