April 20, 2024

• 

[THE INVESTOR] South Korean medical device company L&K Biomed has received the US Food and Drug Administration approval for its minimally invasive surgical device for fusion of certain disorders in the sacroiliac joint, the firm said on Nov. 21. 

The spinal implant manufacturer was granted the approval for SI joint fusion system, a device that applied minimally invasive surgical solution that provides less pain and a quicker recovery time than an open spine surgery on patients.

“The endorsement will enable surgeons to adopt MIS techniques for various spine surgeries following FDA’s approval for a cervical implant product developed by L&K Biomed in July,” an official at the firm said.

He said that the company can benefit from the growing demand for MIS that is becoming an established surgical practice as patients and surgeons are shifting from traditional surgical operations.

L&K Biomed is expecting to list its shares on the Seoul bourse on Nov. 30. It has set its initial public offering price at 15,000 won (US$12.66) per share.

By Park Han-na (hnpark@heraldcorp.com)