Dentis Co., Ltd. (CEO Ki-bong Shim), an implant-based dental and medical solution company, announced on the 24th that it signed a business agreement (MOU) with Hopedia Medicare, an Indian company specializing in Shadowless surgical lights.
Last year, Dentis completed the process of establishing a new corporation and importing licenses in India, and began to enter the new market in earnest. India has the largest population with a population of approximately 1.45 billion, and is a huge market with a high economic growth rate, recently growing to the world's fifth largest GDP. According to the Korea Trade-Investment Promotion Agency (KOTRA), the Indian medical device market is expected to grow from $15.3 billion in 2023 to $20.5 billion in 2029, growing at an average of 5.35% annually.
Hospedia Medicare, which recently signed an MOU with Dentis, has 35 years of experience in the LED surgical lighting business, and its main products are ceiling-type and mobile surgical lights. The company is evaluated to have strong sales capabilities in India based on its long history.
Through this MOU, the two companies plan to actively cooperate in expanding the share of operating room solutions, including surgical lights, in the Indian market. Last year, Dentis renewed its surgical light brand, Luvis, as ‘Luvis Medical Systems’, which encompasses the entire operating room solution, and is actively pursuing expansion into the global market. In addition, Hospedia Medicare plans to work with Dentis to become an Indian operating room solution company and expand its product lineup.
In particular, the two companies agreed to not only cooperate in the simple supply of products, but also to work together on a mid- to long-term business roadmap through the development and commercialization of surgical lamp models specialized for the Indian market, technological partnerships, and joint branding.
This year, Dentis is conducting the 'Global Team Ruby Project' targeting the world's five major markets, including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, focusing on the US, Europe, China, India, and Japan, to form strong partnerships with global dealers. The Indian market is also a project that aims to establish investment and sales marketing strategies from a comprehensive perspective with strategies specialized for the local market, and achieve responsible sales performance together with partners.
Sim Ki-bong, CEO of Dentis, said, “This MOU will accelerate Dentis’ strategy to expand the global supply of its flagship Ruby’s operating room solution,” adding, “We expect to see performance growth through increased brand awareness and market share in the world’s largest market, India.”
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