i-SENS, a local in vitro diagnostics company, has acquired AgaMatrix, a U.S. blood glucose measuring device manufacturer.According to a public filing made by the company, i-SENS will acquire 52.57 million shares of AgaMatrix for about 36.1 billion won ($26.9 million). Following the acquisition, i-SE
Major in vitro diagnostic companies in Korea experienced a decline in sales in the first quarter.Among the five listed companies, SD Biosensor reported sales of 182.4 billion won ($136.5 million) in the first quarter of this year, down 7.6 percent from the previous quarter. However, the company redu
Lunit said it is expanding the pilot introduction of AI solutions to overseas deployed troops and medical institutions in combat zones to advance the military medical environment.Lunit recently signed an agreement with the Ministry of Science and ICT and the National IT Industry Promotion Agency (NI
SD Biosensor, an in vitro diagnostic firm, is facing trouble at home and abroad.In April, the National Tax Service slapped a fine of about 100 billion won ($74.6 million) on SD Biosensor, and the U.S. Food and Drug Administration recently recommended suspending the use of the company’s Covid-19 diag
Ybrain, a company specializing in mental health therapeutics, said on Thursday that its depression electroceutical, MINDD STIM, showed significant improvement in a study of Covid-19 patients suffering from brain fog.Brain fog occurs when a person feels depression, fatigue, and cognitive decline and
Lunit's first-quarter consolidated sales hit 10.9 billion won ($8.2 million), marking a remarkable 268.6 percent surge compared to the same period of 2022. The first-quarter revenue, boosted by solid international sales, is nearly 80 percent of the company's total revenue last year.Overseas sales in
The Medtronic Innovation Center (MIC), a training center of Medtronic Korea within the High-Tech Healthcare Complex in Osong, some 150 km south of Seoul, has trained about 30,000 medical professionals.Amid the rapidly developing medical equipment, including surgical devices, Medtronic Korea has buil
3BIGS said on Wednesday that it signed a memorandum of understanding (MOU) with Bangalore Gastro Center (BGC), a hospital specializing in digestive diseases in India, to research and treat digestive diseases based on the gut microbiome.The collaboration aims to provide end-to-end personalized diagno
Lululab said it has signed a memorandum of understanding (MoU) with Yonsei Cancer Center's Scar Laser and Plastic Surgery Center to establish a Skin AI Beauty Research Center.The contract comes after the company had signed a previous agreement with Severance Hospital in 2020 to establish a skin diag
SD Biosensors has initiated a recall of certain Pilot COVID-19 At-Home Tests distributed by Roche Diagnostics in the U.S.The Pilot COVID-19 At-Home Test is an over-the-counter rapid antigen test and uses a nasal swab sample that can be self-collected and self-tested by individuals ages 14 years and
On Monday, Roche Diagnostics Korea announced the launch of uPath PD-L1 (SP263) Image Analysis Algorithm, an automated AI tool designed to rapidly detect PD-L1 biomarkers in non-small cell lung cancer (NSCLC) patients.The product operates on uPath enterprise software and serves as a companion diagnos
The recent removal of bidding rules by the Vietnamese government is expected to accelerate the entry of Korean medical device companies into the Vietnamese market, industry watchers said.The Vietnamese Ministry of Health has eliminated government bidding regulations in response to complaints from th
Glenwood Private Equity (PE) has been selected as the preferred bidder for an acquisition of LG Chem's diagnostic division, a pharmaceutical industry official said. LG Chem's diagnostics division operates various diagnostic reagents and polymerase chain reaction (PCR) equipment to test for allergic
Siemens Healthineers said it unveiled Atellica CI 1900 Analyzer, an integrated biochemical and immunoassay solution, for the first time in Korea at the Korean Society for Laboratory Medicine's 2023 spring symposium, held from last Thursday to Friday.Atellica CI 1900 Analyzer received approval from t
Coreline Soft said it has signed a contract to supply AVIEW COPD, an automated lung image analysis software for the diagnosis of chronic obstructive pulmonary disease (COPD), to Pulmonx Corporation in the U.S.AVIEW COPD is a fully automated solution that combines the various image analysis algorithm
SD Biosensor, an in vitro diagnosis company, has been ordered to pay a penalty of 102.1 billion won ($76.1 million) due to a recent tax audit.In a public filing Thursday, the company said that Central Reginal Tax Service imposed the penalty tax. The surcharge was the result of the tax audit for the
Promis Diagnostics, a U.S. subsidiary of Genomictree, said its in-vitro early detection product for bladder cancer, EarlyTect-BCD, has received breakthrough device designation from the U.S. Food and Drug Administration (FDA).Breakthrough device designation is a review process granted by the FDA to e
The domestic medical artificial intelligence industry has said, “Without insurance benefits, we cannot survive.”At a recent workshop, however, digital healthcare companies expressed willingness to “live independently” based on user experience. Participants said they must break away from the time-old
The number of medical device approvals has been declining since the outbreak of the Covid-19 pandemic in early 2020 but domestic medical devices have outpaced imports in terms of approvals for three consecutive years, a government report showed. According to the report by the Ministry of Food and Dr
Indica Labs and Lunit have announced an agreement to offer a fully interoperable solution, integrating Indica Labs’ HALO AP image management software platform with Lunit’s suite of AI-powered pathology products.Lunit SCOPE PD-L1 NSCLC (non-small cell lung cancer) can be activated in the HALO AP user