[DealSite Reporter Da-eun Lee] Mezoo is accelerating its push into North America, the world’s largest medical device market, following its KOSDAQ listing. The company plans to focus on securing early references through collaborative research with local hospitals and technology demonstrations of its ambulatory Remote Patient Monitoring (aRPM) platform, ‘HiCardi.’
According to the securities registration statement disclosed by Mezoo this month, approximately KRW 16.3 billion out of the total KRW 22.1 billion raised from the public offering will be invested in expanding overseas operations. The funds will be used for marketing in North America and Europe, engaging global business development (BD) agencies, developing localized solutions, and establishing overseas subsidiaries.
In the early stage of entering the North American market, Mezoo is building its market entry foundation by conducting technology demonstrations and proof-of-concept (PoC) clinical studies primarily with tertiary hospitals. The company has previously considered several strategies for entering the U.S. market, including establishing a local subsidiary, acquiring an Independent Diagnostic Testing Facility (IDTF), and forming a joint venture (JV). However, it is currently placing greater emphasis on securing hospital-centered references rather than pursuing an IDTF acquisition.
Cho Sung-pil, Vice President of Mezoo, stated, “At this stage, we are conducting technology demonstrations and PoC clinical studies with local hospitals and institutions to establish a foundation for market entry. Based on the results, we plan to further define our business structure and consider various strategies such as establishing a subsidiary, partnering with distribution channels, or forming joint ventures.”
