Boditech Med has entered the second stage of distributing a pharmacy diagnosis system with RD Group
- Entering the second stage of distributing the pharmacy diagnosis system with RD Group in 2Q, 2023
- Planning to supply the AFIAS platform to 2,700 pharmacies owned by RD Group
- Additionally, discussing pharmacy projects with other countries such as Central and South America and North America
We are delighted to announce that Boditech Med enters the second stage of distributing a pharmacy diagnosis system with RD Group (Raia Drogasil), a leading company in the Brazilian pharmacy market with 15% market share.
RD Group operates 2,700 of its own pharmacies in Brazil and the total annual sales in 2022 are $5.8 billion dollars (7,530,000,000,000 won). In addition, the company had a 15.1% market share in 2022. Since 1995, it has launched pharmacies all over Brazil and it has been growing constantly every year.
In Brazil, the pharmacy provides diverse services, such as basic health checkups, monitoring patients with chronic diseases and vaccinations.
Based on this, Boditech Med and Grupo Kovalent, its local distributor, made plans to provide the AFIAS platform with pharmacies in Brazil and the plan has materialized with RD Group in early 2022. As a first stage, we have provided our AFIAS platform with four diagnostic kits (β-HCG, Vitamin D, AMH, HbA1c) in more than 300 pharmacies since October last year.
For the 2Q of 2023, Boditech Med plans to expand the AFIAS installation more than double and to finally provide the AFIAS platform with the pharmacies owned by the RD Group in stages. In addition, we are planning to provide eight diagnostic kits in total by adding four diagnostic kits (TSH, PSA, free T4, and Dengue).
Eui-Yul Choi (CEO, Boditech Med) mentioned that “Brazil has the largest diagnostic market in Latin America with a population of more than 200 million. The point is that the population is steadily increasing and the diagnostic market is also growing constantly as the incidence of chronic diseases increases along with economic growth. We believe that, based on this project with RD Group, this is a great opportunity for us to boost Boditech Med’s brand value in the Brazilian IVD market. Additionally, we are planning to make the same type of partnership for another Latin America and North America.”