SEOUL, South Korea, Feb. 5, 2024 /PRNewswire/ — Rokit Healthcare, a trailblazer in AI-driven medical bioprinting technology, proudly announces its achievement of an AA rating in the KOSDAQ (Korea Securities Dealers Automated Quotations) technology listing evaluation. Garnering A grades from both assessment agencies, this milestone marks a pivotal moment as the company gears up for its forthcoming IPO on the KOSDAQ.
The evaluation agencies underscored Rokit Healthcare’s robust technical capabilities and promising commercial potential, particularly lauding its flagship technology, “AI-based hyper-personalized organ regenerative bioprinting.” This cutting-edge approach utilizes a patient’s own adipose tissue, mitigating the risk of immune reactions, and incorporates state-of-the-art AI technology for wound recognition, significantly reducing surgical treatment durations. Moreover, it is poised to slash treatment expenses for chronic ailments such as diabetic foot ulcers and degenerative osteoarthritis by as much as 90% compared to traditional methods.
Already commercially available in around 40 countries including the US, Europe, the Middle East, South America, and Asia, Rokit Healthcare’s diabetic foot ulcer treatment technology has demonstrated widespread adoption. The company has demonstrated steady growth, with its annual revenue rising from $5 million in 2021 to $6.9 million in 2022, and a similar or higher growth trend is projected for 2023 and 2024. With the anticipated introduction of medical insurance coverage in the US and the Middle East this year, revenue is projected to experience a substantial uptick, potentially increasing tenfold.
In a strategic move, Rokit Healthcare has applied for a Current Procedural Terminology (CPT) code with the American Medical Association (AMA), a crucial step toward securing insurance coverage in the US. Simultaneously, the company is actively pursuing insurance coverage in regions such as the Middle East, Thailand, the Philippines, Indonesia, Malaysia, and India.
Commenting on this achievement, Seokhwan Yoo, CEO of Rokit Healthcare, stated, “This successful evaluation validates the significance of Rokit Healthcare’s technology and business outlook. We are dedicated to leveraging our KOSDAQ listing to expedite global market expansion and provide patients with innovative treatment alternatives.”
About ROKIT Healthcare:
ROKIT Healthcare leads the charge in AI bioprinting for skin and cartilage regeneration, setting industry benchmarks. Its technologies, recognized as medical devices in over 40 countries including the US (FDA), EU (CE), Korea, the Middle East, Asia, and South America, are synonymous with excellence. Pioneering AI-driven personalized organ regeneration, ROKIT Healthcare offers solutions boasting up to 90% efficacy in skin and cartilage regeneration. Globally acclaimed, the company has received accolades such as the GSMA’s M360 APAC 2023 Top Innovator Award and the 2023 Korea ICT Award, along with endorsements from the Global Digital Innovation Network (an accelerator established under the South Korean Ministry of Science and ICT), underscoring its profound impact in the medical realm.