A cutting-edge Korean medical technology company developed groundbreaking AI imaging technology that dramatically reduces MRI scan times while maintaining superior image quality. Their innovative solution enables healthcare facilities to serve more patients with existing equipment, maximizing resource efficiency and reducing the need for additional MRI scanners.
With proven technology in the Korean market, the company was ready to expand globally to address the worldwide healthcare efficiency crisis. However, breaking into highly regulated international medical markets required specialized expertise, regulatory navigation, and strategic partnerships that only a global expansion partner could provide.
The Challenge
Despite having revolutionary technology with clear market demand, the company faced significant obstacles in achieving global expansion:
Regulatory Complexity: Medical device regulations vary significantly across markets, requiring specialized knowledge of FDA, CE marking, and other international standards.
Limited Global Network: No existing relationships with international healthcare systems, medical device distributors, or key opinion leaders in target markets.
Capital Requirements: Global expansion required significant funding for regulatory approvals, clinical trials, and market entry investments.
Market Entry Strategy: Uncertainty about optimal go-to-market strategies for different international healthcare systems and reimbursement models.
How Global Expansion Solutions Helped
Global Expansion Solutions implemented a comprehensive multi-program approach combining our Acceleration and International Business Development programs to systematically overcome each expansion barrier. Including:
Funding: Strategic introductions to healthcare-focused VCs and strategic investors familiar with medical device scaling.
Global presence: High-impact presence at major US medical conferences, securing qualified meetings with hospital systems and technology partners.
Expansion: Achieved strategic partnerships with leading medical institutions for validation studies and early adoption programs.
Global Market Strategy: Developed comprehensive regulatory framework and market entry strategy for expansion through subsidiaries in Europe and the US.
The Results
- $20M funding secured
- Multiple strategic partnerships
- First prize placed in K-Startup program