Local Medical Equipment Companies Sign Contract to Export Over USD 3 Million Worth of Products to China
Six companies participated with the support of Daegu Metropolitan City
Medical equipment companies from Daegu participated in the 82nd China International Medical Equipment Fair (CMEF Autumn 2019) and successfully discussed exports worth a total of USD 9.59 million.
Product Consultations with Foreign Buyers
CMEF is the largest medical equipment fair in Asia, held biannually. CMEF Autumn 2019 was held for four days from October 19 to 22 at the Cosmopolitan Exposition in Qingdao, China. It was attended by over 100,000 buyers and visitors and 4,000 companies from 20 countries.
At the Daegu Pavilion, sponsored by Daegu Metropolitan City and built by the Daegu Technopark Business Promotion Agency, six companies from Daegu, including Endovision, U-BioMed, Orthotech, Daeryu, Dentalrix, and Song I Textile, participated.
At the fair, these participating companies signed export contracts worth over USD 3.04 million and took part in 403 export consultations, total of which was worth USD 9.59 million. It was an achievement that showed how these companies’ product competitiveness received recognition in the Chinese medical equipment market, which is known for its high entry barrier.
Endovision, a Daegu Pre-Star Company located in the Daegu High-Tech Medical Complex that specializes in the development of two-way spinal surgery (UBE) scope, finalized an export consultation for spinal surgery (UBE) equipment worth USD 3 million with a Chinese medical equipment distributor. The representatives of Endovision will visit the Chinese company before the end of October to sign the official contract.
The Chinese distributor expressed high satisfaction in Endovision’s products, remarking, “Endovision has all the products necessary for spinal surgery. Its biggest advantage is that it even has a program for training the hospital staff to use the products in connection with hospitals.”
U-BioMed, which produces Tappy Tok-Tok, a painless MTS device, also signed a contract worth over USD 40,000 at the CMEF and is expecting additional exports in the future.
“Until now, Daegu’s medical equipment companies had competitive products but faced difficulty in sales and marketing,” commented Lee Seung Ho, Vice Mayor for Economic Affairs of Daegu Metropolitan City. “I think we were able to overcome this difficulty at the fair. We will continue to provide systematic support for our medical equipment companies’ products to reach all parts of the world.”
Daegu Metropolitan City and the Daegu Technopark Business Promotion Agency will also participate in Arab Health 2020, which will be held in Dubai in January next year, to boost the exports of Daegu’s medical equipment companies.