FineMedix Signs KRW 3 Billion ODM Deal with U.K.'s Creo Medical

Supply to U.S. and Latin American markets from 2026 to 2028... Production of two endoscopic instruments
First-half revenue up 43.7%... Combining own-brand sales with ODM supplies

FineMedix, a digestive endoscopy solutions company, has signed a three-year original design manufacturing (ODM) contract worth approximately KRW 2.973 billion with British medical device company Creo Medical. FineMedix will supply two of its self-developed endoscopic instruments to the U.S. and Latin American markets, expanding its overseas business.

FineMedix announced on October 21 that it had signed an ODM business contract with Creo Medical.

Jeon Seongwoo, CEO of FineMedix (center), with Craig Gulliford, CEO of Creo Medical (left), and Peter Mandiola, Vice President of Latin America at Creo Medical (right). FineMedix

The two companies signed the contract on October 19 (local time) at United European Gastroenterology Week (UEGW) in Barcelona, Spain. The three-year contract runs from 2026 through 2028 and is worth $2,109,910 (approximately KRW 2.973 billion). It covers ClearTip, a tissue sampling device used for endoscopic ultrasound-guided fine-needle aspiration and biopsy, and ClearCap, which attaches to the tip of an endoscope.

The agreement will allow FineMedix to expand beyond selling products under its own brand into ODM production for global medical device companies. The company plans to increase product supplies in the U.S. and Latin American markets by leveraging Creo Medical's global sales network. The contract is structured to expand in stages following initial supplies, and FineMedix expects to grow revenue through follow-up orders.

Both products covered by the contract have received authorization from the U.S. Food and Drug Administration (FDA). ClearTip received FDA authorization in 2025, and ClearCap in 2021. In June this year, both products completed the transition to certification under the European Medical Device Regulation (CE MDR). FineMedix has in-house capabilities spanning product development, regulatory approvals, and production, and currently supplies products to 48 countries.

FineMedix recorded revenue of KRW 6.26 billion in the first half of this year, up 43.7% from the same period last year. It also swung to an operating profit. Overseas revenue rose approximately 51% year over year.

FineMedix plans to grow overseas revenue by combining sales under its own brand with ODM supplies. Alongside securing follow-up orders and cumulative sales, the company also plans to expand its ODM product range and supply regions in stages.

FineMedix CEO Jeon Seongwoo said, "This contract is significant because it shows that a global medical device company has recognized FineMedix's capabilities in product development, regulatory approvals, and production. Starting with this ODM contract, we will build a track record of follow-up orders and revenue in the U.S. and Latin American markets."

This content was produced with the assistance of AI translation services.