April 20, 2024

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[THE INVESTOR] Neofect, a South Korean medical technology startup specializing in smart rehabilitation solutions, is officially stepping into Japan’s rehab market in partnership with Japanese medical equipment maker Nihon Kohden, officials said Wednesday.

Under a distribution partnership signed this week, Nihon Kohden will begin selling Neofect’s Rapael smart rehabilitation devices and solutions -- designed to help stroke survivors and patients with neurological and musculoskeletal injuries regain key motor skills -- to hospitals in Japan.

It is the first time for Nihon Kohden to partner with a Korean rehabilitation device maker, according to Neofect.

Rapael smart glove (Neofect)

With the agreement, Neofect now sells its rehab solutions in the US, Europe, Korea as well as Japan, among the world’s largest markets for rehabilitative devices.

“Japan is one of the fastest aging societies in the world. The country’s rehabilitation industry is consistently growing, with the Japanese government actively investing in the field,” said Neofect CEO Ban Ho-young.

“Despite the opportunities, Japan has been a difficult market to break into for foreign companies. By partnering with Nihon Kohden, which possesses a nationwide sales network in Japan, we’ve acquired a bridge for our launch into the market.”

Neofect’s Rapael smart rehab solutions allow patients to use portable, lightweight equipment to participate in various games, which are not only clinically proven to aid rehab, but to also induce interest and motivation in the patient.

The firm’s main device is the Rapael smart glove, a flexible robotic glove fitted with sensors to capture the patient’s motions and measure the degree of finger and wrist movement. It connects to a software via Bluetooth, with which patients can practice motor movements through games.

It also offers the Rapael smart pegboard for upper body rehab and visual, spatial cognitive training. The digitized board features games like smack-a-mole, and connects to software that records and analyzes a patient’s progress.

Both devices were awarded for their innovation for two consecutive years at the Las Vegas-based Consumer Electronics Show in 2017 and 2018.

By Sohn Ji-young/The Korea Herald (jys@heraldcorp.com)