Korean medtech company Medi Futures said late last week that it raised approximately $5 million in a new financing round.
The round was joined by Samho Green Investment and ST Capital, alongside strategic investors from the U.S. and China, the Seoul-based company said.
“The sales volumes of Medi Futures’s medical devices currently stand at almost [$30 billion] and continue to grow at an annual rate of 12%. The devices are part of the minimal invasive medical field that is expanding globally. The advantages of these devices are that they minimize tissue damage and help patients recover more quickly. Given that 80% of the company’s sales come from overseas markets, the company is highly expected to continue to grow,” Samho Green Investment CEO Jo Soo-Bong said in prepared remarks.
Medi Futures said that it has developed and is commercializing ultrasonic endoscopic disk surgical instruments as well as enzyme-free ultrasound stem cell separators based on an ultrasonic tech platform. The company added that it has also developed and exported medical sutures with high-precision anchoring points.
“Based on its patented medical technology, Medi Futures shows great growth potential. The company is expected to expand its businesses in the global market and attract more investment,” Born2Global Centre chief exec director Kim Jong-kap said in a press release.
“It is meaningful that this investment comes 100% in the form of common stocks through strategic partnerships, rather than through simple financial investment. This investment is expected to accelerate FDA and CFDA approvals. Moving forward, we will continue to strengthen our strategy of global advancement to become the world’s number one company in our field,” Medi Futures CEO Kim Ji-Min said in a prepared statement.