DIO News
DIO Corp., achieving enormous successes in the premium market in the USA
USA 19 Nov, 2019
- Contracts signed with a large-scale dental clinic network group in the USA for a grand scale supply
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The technological capabilities of DIO Corp. (CEO, Jin-Baek Kim), a leading company in digital dentistry, are being fully recognized in the premium market in the USA by succeeding to enter into contract with a large-scale dental clinic network group in the USA for the grand scale supply of digital dental treatment system.
Local DIO corporation in the USA entered into an exclusive supply contract for the ‘Digital Bar Holder System’ that DIO developed on the 15th of last month valued at US$ 37.5 million (approximately 45 billion Korean Won) for the next 5 years with a large-scale dental clinic network group in the USA.
It is a remarkable feature achieved shortly after having entered into a long-term supply contract for the digital implant system ‘DIOnavi.’ valued at US$ 50 million (approximately 60 billion Korean Won) with the same group in August this year.
Accordingly, DIO managed to secure supply right valued at US$ 87.5 million (approximately 105 billion Korean Won) for the next 5 years by successfully entering into long-term supply contract for digital dental treatment system with a large-scale dental clinic network group in the USA, thereby securing the possibility for expansion of long-term business and motive power for the future growth in the USA.
In addition, DIO agreed to establish a joint venture corporation with the same network group with which the aforementioned contracts were signed for supplying the digital edentulous solution and digital prosthesis system (Digital Denture with 3D printer) that DIO developed. This is a bipartite agreement with binding power with anticipated sales revenue of approximately US$97.5 million (approximately 117 billion Korean Won) over the next 5 years through the joint venture corporation to be established in the future.
The CEO, Jin-Baek Kim, who took charge of the contract with this large-scale dental clinic network group in the USA disclosed that, “These contracts and agreement with a large-scale dental clinic network group in the USA is highly significant in that we were able to export our latest digital technology to the USA market,” and that, “we are expecting additional sales revenue of US$ 135 million for the next 5 years, thereby providing impetus for expansion of overseas markets in the future.”
Meanwhile, DIO with the plan to establish the aforementioned joint venture corporation in the USA by the end of December this year is assertively pursuing expansion not only in the USA but also in China currently undergoing rapid growth as one of the key premium markets on the basis of its outstanding technological capabilities. As such, DIO launched ‘DIOnavi.’ in the core markets of China including Shanghai, Shenzhen and Chengdu over the last 2 years, and is expanding sales network with focus on the class 1 metropolis and key cities. Sales revenue in the China market is expected to grow this year by approximately 480% in comparison to the previous year on the basis of the sales contract.