IRVINE, Calif. and SAN FRANCISCO /PRNewswire/
— Corentec Co., Ltd., a leading medical device technology company in
Asia, and based in South Korea, today announced that the Company is now
offering its orthopedic products in the U.S. with the launch of Corentec
America, Inc., a wholly owned subsidiary of the Seoul-based Company. The
announcement was made on opening day of the 79th Annual Meeting of the American
Academy of Orthopaedic Surgeons (AAOS) in San Francisco.
Based in Irvine, CA, Corentec America is exhibiting this
week in Moscone
Center (Booth #4605, Hall E). Corentec America
will market the Company’s rapidly growing portfolio of innovative artificial
Hip and Knee Joint Replacement products and Spine Implants to serve the dynamic
market for orthopedic Implant solutions in the U.S. The Company’s advanced line of
Instruments, used by orthopedic surgeons, and neurosurgeons, will also be
available in the U.S.
Michael Y. Son, vice president, Corentec America, Inc., who
has played a significant role in the sales and marketing successes for several
global healthcare companies, with a focus on Hip and Knee Replacement Joints and
related products as well as Spinal Implant solutions, will lead Corentec America’s sales
and marketing operations.
At AAOS, Corentec America is showcasing the Company’s
product portfolio already cleared for use in the U.S. Products available
immediately include Total Hip and Bi-Polar Hip Joint Implants and a Pedicle
Screw System that will be competitive in the U.S. marketplace. A Total Knee
Joint Implant solution is expected to receive FDA clearance in Q1, 2012.
Additional products for Hip, Knee and Spine are in the FDA clearance process
and will be available in the U.S.
in 2012.
Manufactured in state-of-the-art facilities located in South Korea, Corentec currently holds the number
one position for market share for Total Hip Arthroplasty in South Korea and
is the only domestic manufacturer to achieve this distinction, competing
against all major orthopedic manufacturers. Corentec also has several
distinguishing patents that have been recognized globally, highlighted with the
Company’s founding surgeons presenting a scientific paper that received the
“The Otto Aufranc Award” at AAOS in 2010. The paper focused on
Corentec’s highly unique and patented surface treatment technology, containing
calcium and phosphate, the natural building blocks of bones, to enhance and
maximize bone on-growth.
“Our expansion into the U.S.
market is yet another milestone for our Company,” said Sung Taek Hong,
CEO, Corentec Co., Ltd. “We have great expectations for Corentec America.”
He added, “Through collaboration among a team of world-renowned orthopedic
surgeons, academic leaders, scientists, and R&D engineers, Corentec has
successfully developed a portfolio of Hip and Knee Joint Implants and Spine
Implants and Instruments that are recognized by the Company’s customers for
their high quality and reliability.”
“We look forward to a long and rewarding future in the U.S.,”
added Mr. Hong. “As our Company continues to grow as a competitive player
in the global orthopedic Implant market, it is only natural for us to bring our
innovative solutions to distributors and surgeons in America.”
“The U.S.
market is dynamic and rapidly expanding as demand for orthopedic Implants grows
in relation to the aging population,” said Mr. Son. “Corentec is
well-poised to meet this growing demand by introducing a range of novel
solutions for Hip, Knee, and Spine in the coming decades.” He added,
“I see a great opportunity for Corentec America to make a significant mark
in the Large Joint and Spine Implant markets here. There are a number of
attributes associated with our portfolio that differentiate our Implants and
Instruments from our competitors.”
About Corentec America, Inc.
With international headquarters located in Seoul,
South Korea, Corentec Co., Ltd. was founded in 2000 by Dr. Doo Hoon Sun and
other renowned orthopedic surgeons affiliated with leading university
hospitals. In the spirit of collaboration, Corentec’s founders have been
steadfast in developing a growing portfolio of advanced artificial Hip and Knee
Joint Replacement products and Spine Implants, which are rapidly becoming
recognized around the World. Based in Irvine, CA, Corentec America, Inc. is a wholly owned
subsidiary of Corentec Co., Ltd. The Company markets products for Hip and Knee
Joint Replacements, Spine Implants, as well as Instruments used in orthopedic
surgeries. Corentec’s products will be available through authorized
commission-based and stocking distributors. For additional information, visit http://www.corentec.com,
or contact Michael Son at 949.290.9885, or follow us on Twitter
@CorentecAmerica.
