VATECH signs 5-year deal with a major Chinese medical device manufacturer
VATECH (Chairman Ro Chang-joon, and CEO Samuel Ahn, www.vatech.co.kr) signed a 5-year deal with a major Chinese medical device
manufacturer. Under the terms of the deal announced on March 31, VATECH will provide dental CBCT worth of $34.2 million from semi-knockdowns(SDK) over five years. The name of Chinese partner remains anonymous as agreed by both parties before the announcement was released.
Under this deal, VATECH will provide over 1,000 units of Dental CBCT to China. The deal is a meaningful sign that the company safely landed on the world’s fastest growing 3D X-ray market. In recent years, the demand for dental CBCT in China was accelerated by consumer’s desire for implant treatments. To respond growing market’s demand, VATECH has already made moves including establishing local distribution channel and building manufacturing plants. Currently, VATECH is holding No.1 positon in China’s 2D X-ray market. In addition, the company plans to expand its market share in all imaging sectors by strengthening partnerships with local manufacturers such as today’s deal.
Today’s announcement is only a small piece of VATECH’s 2017 plan. This year, VATECH is preparing to launch a new line of products focused on three areas: scan time, imaging processing and AI (Artificial intelligence). The new projects including AI-based software solutions will set VATECH apart from its competitors in the market.
“VATECH is expanding both partnership and market share in global dental imaging market where the shift to digital technology is no longer a question. With its extensive product innovations and services, VATECH will continue to stand as a market leader in emerging market such as China and India as well as advanced markets in Europe and United States.” stated Mr. Samuel Ahn CEO of VATECH.