Wednesday, 17 April 2024

MediThinQ: First Asian Startup to Launch XR Surgical Displays Globally, Secures Key Partnerships & Investment

XR Surgical Displays Launched Globally

MediThinQ, a pioneering Korean startup specialising in extended reality (XR) wearable displays for surgery, is making waves as the first Asian startup to globally launch XR surgical displays. The company has successfully secured significant deals with industry giants, including Medtronic USA and Japan, marking a substantial milestone in its international expansion efforts.

In tandem, MediThinQ has secured a multimillion-dollar investment from JLK Technology, a Singapore-headquartered medical devices manufacturer, who will also help accelerate MediThinQ's mass production as its appointed manufacturer.

MediThinQ's XR solutions present critical information directly in from of the surgeon's eyes, eliminating the need to divert attention to screens. The first of its kind in revolutionising how medical information is accessed in live surgeries, they are backed by best-in-class image fidelity, latency, reliability, and equipment compatibility.

In the United States and Japan, the world's two largest healthcare markets, MediThinQ's products will be exclusively distributed by Medtronic, underscoring global industry leaders' acknowledgement of the quality and effectiveness of MediThinQ's offerings. This strategic partnership represents a significant milestone in MediThinQ's path toward full-scale commercialisation and global expansion.

Mr Seungjoon Im, Founder & CEO of MediThinQ, expressed his excitement, stating, "We are proud of the groundbreaking technology we've cultivated over the past six years, which sets a new standard in the market. It's even more rewarding to see our innovations making their way into operating theatres worldwide. We extend our heartfelt appreciation to all our partners who have joined us on this transformative journey, and to VentureBlick for orchestrating these pivotal moments and connecting the dots behind the scenes."

Earlier this year, MediThinQ joined VentureBlick's Super Incubator programme – a unique blend of incubator, accelerator, and venture builder, offering tailored support for healthcare startups. VentureBlick has since played a crucial role in elevating MediThinQ's global brand recognition, enhancing negotiation outcomes, raising funds, and positioning the company for continued success.

MediThinQ's flagship products, Scopeye and MetaSCOPE, already hold regulatory approvals in key markets including the US (FDA), Europe (CE), Japan (PMDA), and Korea (KFDA). The technology has also been recognised as one of the top winners at the Medtronic APAC Innovation Challenge in 2022 and received a gold medal at the 2023 Edison Awards.

Looking ahead, MediThinQ is gearing up to launch its next product line targeting the burgeoning Chinese market. It is also exploring applications beyond the medical space, including a collaboration with one of the largest conglomerates in Korea. MediThinQ is currently raising its Series B fund while exploring IPO options in SingaporeHong Kong, and North America. It is setting the stage for potential early exits through strategic acquisitions or accelerated commercial growth.

Published on : 20th February, 2024