Finemedix has inked a 30 billion KRW (approximately 22.7 million USD) Original Design Manufacturer (ODM) contract with British medical device firm Creo Medical, setting its sights on the U.S. and Latin American markets. This strategic move aims to diversify the company’s overseas revenue streams by combining sales of its proprietary products with supply agreements involving global industry players.
On Wednesday, Finemedix revealed its ODM agreement with Creo Medical for the endoscopic instruments ClearTip and ClearCap.
The deal was sealed on Monday during the United European Gastroenterology Week in Barcelona, Spain. Spanning from 2026 to 2028, the contract is valued at 2,109,910 USD. The arrangement targets the U.S. and Latin American markets, with provisions for gradual expansion following initial deliveries.
This partnership marks Finemedix’s transition from direct sales of its branded products to supplying a global medical device corporation. The company anticipates leveraging Creo Medical’s international distribution network to establish a local presence more efficiently, reducing market entry costs and timeframes.
Product Competitiveness Bolstered by FDA Approval and European Certification
The ClearTip, a key product in this deal, is designed for endoscopic ultrasound-guided fine needle aspiration and biopsy procedures. The ClearCap enhances endoscopic visibility and operational ease.
Finemedix reports that the ClearTip received U.S. Food and Drug Administration (FDA) approval in 2025, while the ClearCap was cleared in 2021. Both products completed the transition to European Medical Device Regulation certification in June this year.
Currently supplying to 48 countries, Finemedix’s in-house capabilities span product development, regulatory compliance, and manufacturing. This new contract paves the way for expansion into Latin America and stronger global partnerships.
First-Half Revenue Surges 44% as ODM Strategy Fuels International Growth
The agreement is expected to boost Finemedix’s financial performance and global footprint.
Finemedix reported first-half revenues of 62.6 billion KRW (approximately 47.4 million USD), up 43.7% year-over-year. The company achieved profitability, with international sales climbing approximately 51%.
Moving forward, Finemedix plans to balance branded product sales with ODM supply agreements. This approach aims to stabilize overseas revenue through repeat orders and cumulative sales, while gradually expanding product lines and market reach.
Chief Executive Officer (CEO) Jeong Seong-woo emphasized that this contract validates the end-to-end capabilities in the eyes of a global industry leader. It’s committed to building on this momentum in the U.S. and Latin American markets.
Finemedix is also venturing into next-generation therapeutic endoscopes, including EUS-based pancreatic cancer treatment devices. This initiative signals the company’s evolution from a procedure device manufacturer to a comprehensive endoscopic medical technology firm.