Boditech

Boditech Med Inc. is a South Korean company specializing in in-vitro diagnostics. Founded in November 1998 by Dr. Eui-Yul Choi and his former students, the company initially focused on antibody development before shifting to the point-of-care testing (POCT) market in 2000. Dr. Choi, who holds a Ph.D. and worked as a postdoctoral researcher at Yale University, was inspired by the potential of bio-ventures and started the company at a Hallym University incubation center.

The company develops and manufactures a wide range of diagnostic products, including portable fluorescence scanning instruments and disposable cartridges that test for various biomarkers in blood, urine, and other specimens. Its product portfolio covers over 90 parameters for cardiac, cancer, hormonal, and infectious diseases, among others. The business model is centered on the sale of these consumable cartridges, which generate over 80% of revenue, for use with its proprietary diagnostic analyzers like the 'ichroma' and 'AFIAS' systems. This strategy involves placing analyzers in facilities to drive recurring sales of the single-use cartridges.

Boditech Med operates globally, exporting its products to 120 countries, with significant markets in Europe, the Middle East, North Africa (MENA), and Latin America. The company is publicly traded on the KOSDAQ market (206640). The firm is also expanding into new areas, including diagnostics for companion animals and collaborations for chronic disease testing in major markets like China.

Keywords: point-of-care testing, in-vitro diagnostics, IVD, medical diagnostics, immunoassay analyzer, diagnostic reagents, immunoassay testing, fluorescence immunoassay, cardiac markers, cancer biomarkers, hormone testing, infectious disease testing, POCT, diagnostic cartridges, molecular diagnostics, chronic disease diagnosis, global diagnostics, KOSDAQ, medical devices, hematology analyzer