Corentec Co., Ltd. Launches Corentec America, Inc. at Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS)

IRVINE, Calif. and SAN FRANCISCO, Feb. 7, 2012 /PRNewswire via COMTEX/ — Corentec Co., Ltd., a leading medical device technology company in Asia, and based in South Korea, today announced that the Company is now offering its orthopedic products in the U.S. with the launch of Corentec America, Inc., a wholly owned subsidiary of the Seoul-based Company. The announcement was made on opening day of the 79th Annual Meeting of the American Academy of Orthopaedic Surgeons (AAOS) in San Francisco.
Based in Irvine, CA, Corentec America is exhibiting this week in Moscone Center (Booth #4605, Hall E). Corentec America will market the Company’s rapidly growing portfolio of innovative artificial Hip and Knee Joint Replacement products and Spine Implants to serve the dynamic market for orthopedic Implant solutions in the U.S. The Company’s advanced line of Instruments, used by orthopedic surgeons, and neurosurgeons, will also be available in the U.S. Michael Y. Son, vice president, Corentec America, Inc., who has played a significant role in the sales and marketing successes for several global healthcare companies, with a focus on Hip and Knee Replacement Joints and related products as well as Spinal Implant solutions, will lead Corentec America’s sales and marketing operations.
At AAOS, Corentec America is showcasing the Company’s product portfolio already cleared for use in the U.S. Products available immediately include Total Hip and Bi-Polar Hip Joint Implants and a Pedicle Screw System that will be competitive in the U.S. marketplace. A Total Knee Joint Implant solution is expected to receive FDA clearance in Q1, 2012. Additional products for Hip, Knee and Spine are in the FDA clearance process and will be available in the U.S. in 2012. Manufactured in state-of-the-art facilities located in South Korea, Corentec currently holds the number one position for market share for Total Hip Arthroplasty in South Korea and is the only domestic manufacturer to achieve this distinction, competing against all major orthopedic manufacturers. Corentec also has several distinguishing patents that have been recognized globally, highlighted with the Company’s founding surgeons presenting a scientific paper that received the “The Otto Aufranc Award” at AAOS in 2010. The paper focused on Corentec’s highly unique and patented surface treatment technology, containing calcium and phosphate, the natural building blocks of bones, to enhance and maximize bone on-growth.
“Our expansion into the U.S. market is yet another milestone for our Company,” said Sung Taek Hong, CEO, Corentec Co., Ltd. “We have great expectations for Corentec America.” He added, “Through collaboration among a team of world-renowned orthopedic surgeons, academic leaders, scientists, and R&D engineers, Corentec has successfully developed a portfolio of Hip and Knee Joint Implants and Spine Implants and Instruments that are recognized by the Company’s customers for their high quality and reliability.” “We look forward to a long and rewarding future in the U.S.,” added Mr. Hong. “As our Company continues to grow as a competitive player in the global orthopedic Implant market, it is only natural for us to bring our innovative solutions to distributors and surgeons in America.”
“The U.S. market is dynamic and rapidly expanding as demand for orthopedic Implants grows in relation to the aging population,” said Mr. Son. “Corentec is well-poised to meet this growing demand by introducing a range of novel solutions for Hip, Knee, and Spine in the coming decades.” He added, “I see a great opportunity for Corentec America to make a significant mark in the Large Joint and Spine Implant markets here. There are a number of attributes associated with our portfolio that differentiate our Implants and Instruments from our competitors.”