The Swiss dental manufacturer Geistlich Pharma has announced that they have got 100 per cent of shares of Jungsan Biomed, its current distribution partner in South Korea. The new company will be based in the capital Seoul and focus exclusively on the distribution of Geistlich’s biomaterials for bone replacement and tissue regeneration in dental and craniofacial surgery. The other financial details were not let known.
According to the latest reports, the Jungsan acquisition is the most recent step in the company’s long-term strategy for international expansion. This will also go on to be able to get them a larger strength and chunk of the market. They have greater and more dynamic and competitive dental markets in Asia. The company intends to keep the staff and facilities of Jugsan in Seoul.
Geistlich Pharma is part of the larger Geistlich Group conglomerate which includes other business ventures such as the production of adhesives, feed fat and a real estate business. Besides South Korea, the company has a large presence in Asia. It also has a subsidiary in Beijing in China and operates through distributors in other Asian countries.