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> SBT and Wontech Form Joint Venture to Accelerate Medical Equipment Innovations
On September 18, 2024, SBT Ultrasonic Technology Co., Ltd. (SBT) announced a strategic partnership with Wontech, a South Korean medical equipment company. The two companies will establish a joint venture (JV) in Wuxi, Jiangsu Province, China, and set up a research and development platform to promote the localization of medical equipment production and technology transfer.
The key of the cooperation
1.Localization of Technology Transfer and Production Expansion
According to the agreement, SBT will introduce and localize the production of Wontech's core devices, Picocare 450 and Pastelle, through the JV. This collaboration aims to reduce production costs and expand market share, with plans to manufacture and sell over 2,000 units of Picocare 450 and Pastelle within the next decade.
2. Complementary Technologies and Market Synergy
SBT specializes in medical ultrasound technology, while Wontech leads in laser and radiofrequency equipment. Their technologies are highly complementary in the dermatology and surgical energy device markets. The initially introduced Picocare 450 and Pastelle have obtained NMPA import registration certificates, aligning with the "Made in China 2025" policy on the industrialization of biomedicine and high-performance medical devices.
3.Long-term Strategic Planning and Deepened Cooperation
SBT will leverage its ultrasound technology expertise to engage in broader medical device R&D collaborations with Wontech. Wontech will also source key components from SBT to support its products' entry into international markets, establishing a crucial link in the global supply chain.
About Wontech
Established in 1999 and headquartered in Daejeon, South Korea, Wontech is renowned for its research, development, and production of high-end medical laser, ultrasound, and radiofrequency devices. The company is publicly listed and its products are extensively used in fields such as dermatological aesthetics, cardiovascular, spinal, and neurosurgery, with a global reach spanning over 100 countries
Wontech has multiple subsidiaries around the globe, ensuring its products and services are available throughout the worldwide market.
About SBT
Established in 2007, SBT focuses on the R&D and manufacturing of ultrasonic equipment, covering three major industrial sectors: new energy, semiconductors, and medical devices. SBT possesses a complete set of core technologies, including generators, transducers, acoustic tools, control systems, and automation systems, and actively promotes the application of ultrasonic technology in the medical field. SBT went public on the STAR Market in 2022 and continues to advance the R&D of equipment related to dentistry, dermatology, and surgery. The cooperation with Wontech provides an important opportunity for SBT to expand into the medical market.
This partnership is not only a strategic move by Wontech to explore the Chinese market over the years but also a key step for SBT to enter the medical field. Through the joint venture, both parties will:
Enrich the product line: SBT will introduce Wontech's advanced technology to enhance its product portfolio.
Promote the localization of medical devices: Reduce dependence on imported equipment and increase local production capabilities.
Strengthen brand power: Leveraging Wontech's international experience and technology, SBT will solidify its position in the domestic market and expand into the global market.
This collaboration will not only help improve the R&D level of China's medical device industry but also accelerate the localization process of high-end equipment, bringing new development opportunities to the industry.
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