The management of MICo Medical negotiated with KHIND representatives in the Czech Republic for many months, however, the basic precondition for establishing cooperation was obtaining the FDA EUA certification. Two weeks after a positive statement from the US FDA, the agreement was indeed signed and KHIND joins MICo Medical as a half-partner that will focus exclusively on distribution and sales.
"We started communicating with Korean Heavy Industry & Development during May and almost immediately signed a distribution agreement for selected territories," says Jiří Denner, CEO of MICo Medical and owner of the MICo Group.
The Korean company KHIND already has experience with the distribution of protective equipment abroad. Through its office in California, in addition to protective equipment, it also supplies PCR and Rapid tests for COVID-19 to the USA.Therefore, like MICo Medical, it had to take care of ensuring the necessary certification. "Our company has already completed this process and has therefore provided CoroVent manufacturers with all possible synergies and know-how for accelerated certification. In the end, it was successful and we were therefore able to start intensively negotiating mutual cooperation,"confirms KHIND CEO Mr. Patrick Jin Sung Jun's entry into MICo Medical's ownership structures. "I can further confirm that it will be a synergetic cooperation between the two partners. Our main goal will be the sale of lung ventilators outside the Czech Republic and the search for opportunities for further distribution. I am confident that the current establishment will simplify CoroVent's distribution capabilities and contribute to its further development, ”concludes Patrick Jin Sung Jun.