[Photo provided by Osstem Cardiotec]
Osstem Implant, the world’s largest dental implant company, Wednesday announced the relocation of its unlisted subsidiary Osstem Cardiotec’s headquarters and ramp-up to command the largest production base for cardiac stent products in Korea.
Osstem Cardiotec dedicated to medical catheters and coronary stents will continue R&D and production activities at the new site in a Knowledge Industry Center located in Goyang, Gyeonggi Province. Its new head office and production facilities will occupy the land spreading across 562 square meters.
A move-in ceremony held last Thursday was attended by Osstem Implant Chairman Choi Kyu-ok, Osstem Cardiotec CEO Eom Tae-gwan, Chung-Ang University Gwangmyeong Hospital cardiologist Prof. Ahn Tae-hoon and other dignitaries and representatives from municipal and bank organizations.
Osstem Cardiotec plans to roll out 43,200 stents per year from the new location, which is equivalent to 38 percent of 112,000 stents used in Korea last year.
Osstem Cardiotec said it aims to achieve annual sales of 66 billion won ($47.5 million) based on renewed capabilities for production and R&D.
In 2006, Osstem Implant acquired local stent developer Cardiotec and changed its name to Osstem Cardiotec, whose key product is a drug-eluting coronary artery stent.
Last year, Osstem Cardiotec launched CENTUM, the first everolimus-eluting stent in Korea. This product demonstrated excellent clinical outcomes with 97.8 percent in strut coverage at nine months after treatment.
By Yang Yeon-ho and Minu Kim
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