SEOUL, South Korea, June 16, 2021 /PRNewswire/ -- VNTC, a MedTech company, announced on June 15 its signing of a Korean distributorship contract with Dong-A ST. The two companies are now able to provide a wide range of services both at home and abroad through mutual cooperation in sales and marketing.
Dong-A ST, a subsidiary of Dong-A Socio Holdings, is a Korean pharmaceutical company with annual sales of KRW 600 billion. Recently, in addition to its main businesses, including prescription drug and domestic artificial joint supply, it is advancing into novel coronavirus infectious disease (COVID-19) detection kit market and AI-based medical imaging diagnostic business while expanding its medical device business through the scoliosis brace Spinamic. With this contract, VNTC also plans to focus on R&D of spine-related solutions to upgrade its product.
Spinamic is the world's first hybrid scoliosis brace developed by VNTC. It merges the correction capability of conventional rigid plastic brace with the convenience of flexible fabric brace. Moreover, it has the advantage of being wearable for a wide range of patients, from those with mild scoliotic symptoms to those inconvenienced by the difficulty wearing plastic braces while receiving treatment, to physically challenged patients.
Similar to the rigid brace, the essential correction principles such as deflexion, derotation and elongation are implemented with various bands, pads, and pressure control devices. By simply tightening the dial on the device, the pressure intensity can be adjusted according to the improvement of a patient's condition. It is also possible to customize as adolescents go through growth spurts. In terms of design, patients can find comfort in wearing the brace for the recommended 18 hours a day, thanks to its cleaner aesthetic and perfect fit.
Another benefit of Spinamic is that unlike other plastic braces that take more than two weeks to produce, Spinamic is customized immediately through X-ray data analysis and dimensional measurements and delivered to the patient on the same day.
Scoliosis is a disease in which the spine is bent sideways. About 4% of the world's population suffers from this disease, and it is estimated that 44% of scoliosis patients are adolescents. As it develops into a mild, moderate or severe state according to the patient's condition and requirement of surgery that may leave scars and side effects if left unattended, active treatment is key from the beginning.
The industry estimates the size of the related brace market to be KRW 4.7 trillion in the US, KRW 130 billion in Korea, KRW 710 billion in Japan and KRW 5.4 trillion in China.
"This exclusive distributor contract with Dong-A ST is the first large contract in the Korean scoliosis brace industry," said a VNTC official. "Now we are able to actively expand the distribution network through our agents around the world and provide a broader brand exposure and in-depth service to scoliosis patients worldwide thanks to our superior product quality." He also said, "VNTC plans to launch new products related to back and joint diseases subsequently our accomplishment in scoliosis brace technology."