Sky Labs, a local medical device company, said it signed a memorandum of understanding (MOU) with Japan's Otsuka Pharmaceutical to discuss the overseas distribution of CART BP pro, its smart ring blood pressure monitor, in hospitals and clinics globally.

Through this MOU, both companies aim to expand their presence in the global medical device market and strengthen the business-to-hospital (B2H) business model utilizing the CART BP pro. They also plan to engage in detailed discussions on distribution strategies in specific regions.

The CART BP pro is an innovative smart ring medical device designed for hypertension patients. Once prescribed by a hospital, patients can wear it on their finger to monitor blood pressure fluctuations continuously for 24 hours.

The device obtained medical device approval from the Ministry of Food and Drug Safety in 2023 and received reimbursement approval from the Health Insurance Review and Assessment Service in June 2024.

The CART BP pro is the world's first smart ring to have its accuracy verified through comparative clinical studies against three traditional blood pressure measurement methods -- 24-hour ambulatory blood pressure monitoring (ABPM), invasive arterial blood pressure measurement, and standard auscultatory methods.

The study results have been published in journals, including the Korean Circulation Journal (KCJ), Nature Scientific Reports, and the Journal of Korean Medical Science (JKMS).

"The partnership discussions with Otsuka Pharmaceutical hold significant potential to impact hypertension patients worldwide,” Sky Labs CEO Lee Byung-hwan said. “We are excited to accelerate our global market expansion and deliver the best possible services to patients through this collaboration."

Meanwhile, in the local market, Sky Labs signed a distribution and licensing agreement with Daewoong Pharmaceutical, launching the product in hospitals and clinics in August 2024. Within just two months of its launch, the device has been adopted by over 800 healthcare facilities, demonstrating rapid market growth.

CART BP pro is also set to be utilized in a large-scale cohort study, which will be conducted over the next five years to mark the 30th anniversary of the Korean Society of Hypertension. This study is expected to present new solutions for hypertension management.