SEOUL — EOFlow, a South Korean provider of wearable drug delivery solutions, has secured a five-year deal with its partner in the United Arab Emirates to sell wearable and disposable insulin pumps to Saudi Arabia and other members of the Gulf Cooperation Council (GCC).
EOFlow said that Gulf Drug, a UAE-based distributor of healthcare products and services, has been awarded an exclusive contract worth 48.8 billion won ($40.3 million) to sell EOPatch, the world’s second tubeless, wearable, and disposable insulin pump that enables continuous subcutaneous insulin infusion.
Using Gulf Drug’s sales network, EoFlow hopes to preoccupy the Middle East market with a large diabetic population and high interest in healthcare. “EoFlow is moving fast to explore new and large diabetes markets in which competitors have yet to enter, such as China, Indonesia and the Middle East,” EOFlow CEO Jesse J. Kim said in a statement on March 31.
EOFlow, a South Korean provider of wearable drug delivery solutions, has secured an opportunity to expand its presence in Southeast Asia with a 45.3 billion won ($38.4 million) contract with an Indonesian medical device company to supply EOPatch, the world’s second tubeless, wearable, and disposable insulin pump that enables continuous subcutaneous insulin infusion.
Under a deal with PT. Prasasti Nusantara Sukses (PT. PNS), EOFlow will be granted exclusive sales rights in Indonesia for five years. PT. PNS would supply EOPatch through Indonesia’s local distribution network after completing product registration using European CE certification as leverage.
EOPatch has secured CE marking (CE Mark) from the European Union. CE Mark is an administrative marking with which the manufacturer or importer affirms its conformity with European health, safety, and environmental protection standards for products sold within the European Economic Area.
EOFlow aims to become a leading player in the global market with innovative medical devices such as wearable artificial kidneys. In October 2021, the company agreed to set up a joint venture with Changsha Sinocare, a major blood glucose monitoring system manufacturing company in China.
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