EarlySense, an Israeli company which develops contact free monitoring solutions for the ill, received approval to distribute its system including, the Bedside Monitor and Central Display System, in the Korean Market. The company described the Korean selling license and KGMP approval for EarlySense as another major regulatory milestone in a rapidly growing market that includes more than 50 million people with a high quality and rapidly growing healthcare system.
“The South Korean market shows great potential for the EarlySense solutions as they help provide superior patient care and safety levels for Caregivers and their Patients” said E.J.KIM, CEO Woo-Jin Meditec Korea. “We have already received very positive responses from potential customers, and we are looking forward to implement the contact-free monitoring technology in various hospitals around Korea which include more than 550, 000 beds.”
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“This is another significant step in our strategy to expand EarlySense’s presence in growing markets in East Asia” says Yfat Scialom, VP international Sales and Marketing. “By utilizing EarlySense technology, hospitals in Korea will be able to provide the staff tools to detect patient deterioration early and to avoid adverse events such as patient falls and pressure ulcers.”
South Korea’s medical market size in 2013 was around US $4.2B and grew by more than 7% between 2010 and 2013. The Korean health care system has several advantages that provide a strong platform for the contact-free monitoring technology: world-class information technology infrastructure and healthcare data, increasing demand for greater accountability and a recent focus on providing cost effective solutions for an aging population with a growing chronic disease burden.
“We are excited to start operating in the South Korean market, as it has a strong focus on patient safety and quality of care, ” said Dalia Argaman, VP of Clinical and Regulatory Affairs & QA of EarlySense. “This regulatory clearance is additional evidence for EarlySense’s robust quality system.”
