C & R Healthcare Global (‘C&R HG’, CEO Yoon Byung In) and ZIG MedTech Asia (‘ZMA’, CEO Sim Kok Hwee), a global commercialisation company headquartered in Singapore; have signed a Memorandum of Understanding on 8 January 2019 to facilitate the expansion of Korean healthcare companies into the Asia Pacific region.
The two organizations agreed to collaborate with South Korea and Singapore healthcare companies (medical devices, pharmaceuticals, medical aesthetics, and health functional foods) to create partnership opportunities as well as enable market entry into the Asia Pacific market.
ZMA is a subsidiary of ZIG Ventures, a spin-off from Zicom Group. It has diversified its business from precision engineering and manufacturing to medical device business. ZIG Ventures was established to lead the innovation of medical technologies in Singapore. In particular, ZMA supports overseas regulatory submissions, helps develop market strategies and set up sales network. Zicom Group has over 40 years of management experience and technical know-how with direct presence in key markets like China, Australia, Indonesia, Malaysia, Philippines, Thailand and Bangladesh.
“Asia Pacific is a market with high growth potential in the medical device industry,” said Kim Young Mee, C&R HG General Manager. “In that sense, the agreement with ZMA, a network of local experts, is very meaningful, and we will continue to work closely with Korean healthcare venture companies to advance overseas successfully.”
Sim Kok Hwee, CEO of ZMA, said, “Through this agreement, we hope to be a partner to support the advancement of promising healthcare products globally, especially in the Asia Pacific region.”
C & R HG was established in Singapore in 2017 to support the global market entry of domestic (Korean) healthcare companies and currently support 9 healthcare companies (as of January, 2019).
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