Medyssey, a South Korean manufacturer specializing in spinal implants and surgical instruments, recorded $10.63 million in overseas revenue in 2024, reflecting a 10% increase from the previous year. This marks the company’s strongest international performance since it was acquired by Dong Wha Pharm in 2020 for 20 billion won ($13.7 million). The acquisition was a historic milestone for Dong Wha, Korea’s oldest pharmaceutical company, as it was the first in its 123-year history.
As demand for 3D-printed, patient-specific implants continues to rise, Medyssey is expanding its global footprint. The company reported total revenue of 25.5 billion won in 2024, with an operating profit of 3.2 billion won. Sales of 3D-printed spinal implants surged by 29%, reaching 760 million won compared to the previous year.
CEO Seong Gyung-soo, who played a key role in the Dong Wha acquisition, emphasized the company’s strategic market expansion and operational efficiency as key drivers of growth. “We have strengthened our presence in the United States and Chile, and we are pushing further into the Asian market while streamlining SG&A and manufacturing costs,” he stated.
Medyssey exported products worth 14.5 billion won to 25 countries last year. The U.S. led sales with 5.9 billion won, followed by Thailand (2.0 billion won) and Chile (1.6 billion won). The company anticipates expanding its reach to 30 countries once ongoing product certifications are finalized.
Additionally, Medyssey is preparing to transition from Konex to Kosdaq. While executives remain optimistic about the move, a company representative noted that a specific timeline has not yet been established.
In a groundbreaking achievement, Medyssey became the first company in Korea to secure regulatory approval for customized implants made with 3D titanium printing technology. The company’s MCS (for cranial procedures) and MCB (for complex anatomical regions like the pelvis and heel) have become integral to its neurosurgical and orthopedic product portfolio.
With its continued emphasis on innovation, global expansion, and cost optimization, Medyssey is positioning itself for sustained growth in the competitive medical device market.