On September 28, Plasmapp (405000) announced that it had received a purchase order (hereinafter referred to as ‘PO’) worth 1.8 billion won for a new medical low-temperature plasma sterilizer product (model: STERLINK U510) with QMED, a partner company in the United States.

Plasmapp's medical low-temperature plasma sterilizer (brand: STERLINK) is the first non-American company to obtain U.S. FDA certification, proving the reliability of its sterilization performance. It is the only product in the North American small and medium-sized clinic market to obtain FDA certification, and is a global medical device. In the market, we are targeting surgery-oriented clinics such as ophthalmology, neurosurgery, plastic surgery, and orthopedics, and are achieving rapid growth.

Plasmapp developed a new sterilizer product lineup (STERLINK universal) targeting the global dental and animal hospital markets and obtained certification from the Korean Ministry of Food and Drug Safety in June of this year.

Focusing on the domestic dental market, we achieved sales of 2 billion won in the first half of the year alone.

Last July, we were pursuing cooperation with the world's largest premium high-pressure steam sterilizer manufacturer in Europe for production and sales mainly in Europe, and in September, we signed a mid- to long-term agreement with Japan worth 16.5 billion won for a new lineup product (model: STERLINK U510). We signed a supply contract and are pursuing full-fledged market expansion by establishing a cooperative relationship with YOSHIDA, a top 3 company in the Japanese dental medical device market.

This 1.8 billion won PO, which was won in the US on September 28, is the starting point for primary sales in the US market along with Covetrus, which holds the largest share of the global animal hospital market.

Plasmapp's new universal lineup is more differentiated in terms of introduction and operating costs, and is expected to quickly expand its market share as it has a strong competitive advantage over existing products.

Samjeong Yoon, CEO of Plasmapp, said, “In the global medical device market, we are rapidly increasing our global market share by developing customized product lineups optimized for each segmented market such as ophthalmology, dentistry, plastic surgery, orthopedics, and animal hospitals.

Sales in the second half of this year have increased significantly due to recent large-scale contracts and POs, and stable sales performance will continue beyond 2024,” he said, expressing his ambition.

“The STERLINK Universal Line has been recognized for its potential, and we are pursuing global production and sales cooperation with one of the world’s top sterilizer companies in Europe,” he said, leaving open the possibility of additional partnerships for the 『STERLINK U510』 model.

Plasmapp received an order worth 2 billion won for its premium lineup product (STERLINK plus) from a U.S. partner last June and is promoting sales into the U.S. dental and medical market.

The 1.8 billion won PO for the universal line product (STERLINK U510) on September 28th is aimed at the North American animal hospital market, and the continued large-scale orders are considered to be a successful verification of Plasmapp's product lineup strategy for market segmentation. It was reported that sales in the North American market are likely to increase significantly, with 2023 and 2024 being an inflection point.