Northwell Health, a prominent medical network, announced on Thursday that it has entered into a strategic mutual confidentiality agreement (MCA) with Rokit Healthcare for collaboration on skin cancer regeneration and wound healing technologies.
The two entities spent several months evaluating potential synergies before officially sealing the deal during JP Morgan Week, which coincided with last month’s JP Morgan Healthcare Conference.
This agreement lays the groundwork for future discussions on pilot study structures, clinical and research collaborations, regulatory and operational considerations, and medium to long-term sales partnerships and investments.
Specific details remain confidential under the terms of the agreement, with further disclosures planned once definitive contracts are finalized.
Northwell Health, the largest healthcare group in the eastern U.S., boasts an annual revenue of approximately 30 trillion KRW (about 20.8 billion USD). It operates 28 major hospitals, over 1,000 outpatient facilities, and Northwell Direct, a corporate health insurance program.
With a market share between 30% and 40%, this collaboration with Northwell Health is seen as securing a fast track for direct hospital supply in the U.S.
The partnership is particularly significant as it strategically targets the acquisition of a direct distribution network in a key healthcare region of the eastern U.S.
Rokit Healthcare has already begun working closely with Northwell’s medical team this month to develop detailed plans for launching skin cancer and wound regeneration products in the U.S. market.
A spokesperson for Rokit Healthcare explained that standard treatments adopted by large, advanced integrated health systems like Northwell Health typically spread rapidly across medical networks nationwide. This strategic alliance could be a pivotal moment for Rokit Healthcare’s technology to establish itself as a mainstream treatment option in the U.S. market.