Polarean Imaging signs distribution deal in South Korea

(Sharecast News) - Polarean Imaging announced the expansion of its Asia-Pacific footprint on Monday, by signing an exclusive distribution agreement with DK Healthcare for its Xenon MRI platform in South Korea, strengthening the company's international commercial strategy for its advanced lung-imaging technology. The AIM-traded firm said the deal marked its second international distribution partnership, and positioned its hyperpolarised Xenon MRI system for entry into what it described as one of the world's most advanced medical-imaging markets.

It said it would work with DK Healthcare to secure the necessary regulatory approvals ahead of a commercial launch.

Polarean described DK Healthcare, an affiliate of DK, as a long-established provider of diagnostic radiology systems in South Korea.

Founded in 1986 and based in Seoul, the distributor works with global medical-device manufacturers and offers technical, clinical and maintenance support for imaging technologies.

"We are delighted to partner with DK Healthcare, one of South Korea's most respected medical imaging distributors, to expand access to our Xenon MRI platform," said Polarean chief executive Christopher von Jako.

"South Korea's strong emphasis on early detection and precision medicine makes it an ideal growth market, and this agreement accelerates our dual-track strategy to grow internationally through high-quality regional partners while our US team continues to drive adoption domestically."

DK Healthcare chief executive Joonhyuk Lee said the distributor was "excited to introduce Polarean's Xenon MRI technology to Korea's leading hospitals and imaging centers."

"This platform offers clinicians a new dimension in lung function assessment by enabling visualisation of ventilation and gas-exchange that was previously impossible with conventional imaging.

"We believe Xenon MRI will play a vital role in transforming respiratory care in South Korea through enhancing early detection and outcomes for patients with lung cancer, COPD and beyond."

At 1227 GMT, shares in Polarean Imaging were up 0.59% at 0.09p.

Reporting by Josh White for Sharecast.com.