Healthcare pioneers Tong In and Cook Medical announce Historic business transition agreement

SEOUL, SOUTH KOREA--(Korea Newswire)--South Korean healthcare technology distributor Tong In International Co., Limited has announced a landmark transition agreement with Cook Medical, the world‟s largest family-owned medical device manufacturer.

Effective immediately, the deal will see Cook Medical Korea Co. Limited (hereafter „Cook Korea‟) start taking direct responsibility for the supply and support of their medical devices to physicians and medical institutions in the South Korean market.

This restructuring of the distribution seeks to deliver Cook Korea‟s pioneering technologies to physicians and hospitals and comes after the planned retirement of Representative Director of Tong In International, Mr Seung Woo Lee.

Mr Dominic Lee, General Manager of Cook Medical Korea, expressed, “Tong In has been our valued business partner in providing Cook products to the South Korean market for over 25 years. Cook greatly respects and appreciates the significant contribution Mr Lee and Tong In have made to our business and our joint commitment to improving patient outcomes and providing prompt support to meet the diversified needs of our customers.”

“This business transition signals Cook‟s commitment to South Korea and to continuing Tong In‟s tremendous work. We are excited about this transition and are pleased that it provides opportunities for Tong In staff to continue working with Cook Medical products.”

The merger will combine staff from both companies with a total headcount of more than 50 personnel covering sales, finance and administration across the Aortic Intervention, Peripheral Intervention, Women‟s Health, Interventional Radiology, Urology, and Endoscopy divisions. Cook‟s other business units, Critical Care and Surgery, will continue to be supported by their current distributors.

Since establishing its partnership with Tong In in 1983, Cook Medical‟s business in South Korea has grown by a compound annual growth rate of 20%.

About Tong In International
Tong In International is one of Korea‟s leading medical device companies. Founded in 1983, Tong In has made a significant contribution to Korean healthcare as the exclusive supplier of Cook Medical manufactured products for Interventional Radiology, Peripheral Intervention, Endoscopy, Urology, Aortic Intervention and Women‟s Health to the major hospitals in Korea. Tong In always puts patients‟ needs first, and credits this approach for its success and growth in the highly competitive medical device market.

About Cook Medical
A global pioneer in medical breakthroughs, Cook Medical is committed to creating effective solutions that benefit millions of patients worldwide. Today, we combine medical devices, drugs, biologic grafts and cell therapies across more than 16,000 products serving more than 40 medical specialties. Founded in 1963 by a visionary who put patient needs and ethical business practices first, Cook is a family-owned company that has created more than 10,000 jobs worldwide. For more information, visit www.cookmedical.com. Follow Cook Medical on Twitter and LinkedIn.

Website: http://www.cookmedical.com

This is a news release distributed by Korea Newswire on behalf of this company.