[LIVSMED] Innovative Medical Instrument Company that Goes Beyond Limits...
- Name 관리자
- Date 2021-12-24
▲Promotional Video
Innovative Medical Instrument Company
that Goes Beyond Limits with the World’s First Unique Technology
*Photograph: CEO, PhD / MBA Jung-Joo Lee
Can you briefly introduce us to the company LIVSMED?
“An innovative medical instrument company going beyond limits with the world’s first unique technology”
LIVSMED was founded in June 2011 with the goal to introduce world-leading original technology and products. ArtiSential, a single-use multi-joint multi-degree articulating laparoscopic instrument, was developed with our world’s first unique technology, and was approved by the Ministry of Food and Drug Safety in 2018. Afterward, the company received the Ministry of Health and Welfare Award in November 2018 with recognition for leading growth of the Korean medical instrument industry, product innovation, and contribution to public health. In 2020, LIVSMED was chosen as an innovative medical instrument company from the Ministry of Health and Welfare. In July 2020, we were selected as a pre-unicorn company after being placed first in the technology and profitability assessment of the “Preliminary Unicorn Startup Specialty Warranty” of the Ministry of SMEs and Startups, with the highest grade of AA. Currently, there are approximately 100 employees in our headquarters and overseas branches located in the United States, Germany, and Japan.
Please tell us about some of the unique features and advantages of ArtiSential.
“Performing intuitive surgeries just like a surgeon’s hands, with affordable surgeries with the National Health Insurance”
97% of surgeries around the world comprise either minimally invasive surgeries operated with straight instruments or open surgeries. Only 3% of all surgeries are conducted by robots.
Two key features of ArtiSential are that it is a multi-joint end-tool instrument that can bend in 360° degrees like the human hand, and that it is easy to control. Existing straight-shaped instruments could not bend like the human joint, which limited movements of the instrument during surgery. On the other hand, although surgical robots can bend like the human joint, they cost hundreds of millions of dollars to purchase and additional millions to maintain. This leads to a higher price and as robotic surgeries are not covered by health insurance, such surgeries are even more costly for patients. ArtiSential solves these problems with the by simultaneously securing the affordable cost of straight-shaped instruments and the intuitive multi-jointed movements of surgical robots. In addition, surgeries performed with ArtiSential have been covered by the National Health Insurance since 2019, allowing patients to receive surgeries with similar results to robot surgeries at an affordable price.
“Improving the quality of life for patients with safe and precise surgeries”
ArtiSential is a multi-joint surgical instrument that bends in all four directions of up, down, left, and right to imitate the detailed hand movements of a human surgeon, allowing it to conduct safe and precise surgeries. The instrument also allows free movements even in the smallest lesions during surgery. In addition, surgeons using ArtiSential during surgery can feel tactile sensation, making the procedure safer by minimizing potential injury of tissues surrounding the surgery area. Meticulous and precise surgeries lead to reduced operation time, less blood loss, and fewer possibilities of complications. As surgeries with ArtiSential cause less pain and allow for quicker recovery, patients can reduce their stays in the hospital to return to their everyday lives sooner.
What are the future plans or blueprint for the company after entering the global market?
“Maximizing brand value by entering the markets of advanced countries”
ArtiSential was approved by the FDA of the United States, CE of the EU, and the PMDA of Japan. It is also worth noting that over 3,000 surgeries were conducted with ArtiSential in Korea. With 20 types of end tools, the product can be used for almost any surgical procedure. Early this year, LIVSMED successfully provided ArtiSential to Kaiser Permanente, one of the top 5 US hospital networks, and other renowned hospitals around the world as well. The product is available in over 50 countries around the world including the United States, the United Kingdom, France, Australia, and Japan, through our overseas branches and local distributors. We are also planning to enter medical devices markets in countries in Southeast and Central Asia and Russia.
“Contribution to the universalization of healthcare benefits and the health of all humanity”
In addition, we are expecting a surge in sales when the COVID-19 pandemic slows down. Unlike diagnostic instruments like CT and MRI, there are still opportunities in the surgical field, and LIVSMED will develop extraordinary and innovative products to ensure that cutting-edge technology is available at a reasonable price. We hope that our efforts will lead to the universalization of healthcare benefits and ultimately contribute to the health of all humanity.
*Photograph:Next-generation surgical instrument with cutting-edge technology articulating surgical skills based on robotic technology