GYEONGGI-DO

The Icon of Innovation in Diagnostic Images

▲GENORAY Co., Ltd.'s CEO Byung Uk Park

 

Please introduce Genoray.

「Killing two birds with one stone of innovation」

Founded in 2001, Genoray specializes in diagnostic imaging devices. We engage in R&D, manufacturing, and distribution of mobile c-arms, a movable fluoroscopy device, and mammography, diagnostic imaging device for the breast, dental x-ray devices, and mobile x-ray devices that are used for dental diagnosis. Surgery and diagnostic devices and dental devices are two completely different fields. We are one of the few companies around the world that can provide devices for both fields, and the only one of its kind in Korea. We invest more than 7% of our annual sales in R&D, allowing us to secure technological and price competitiveness to export our devices to approximately 80 countries around the world. In 2020, we were selected as a “world-class product and manufacturing company” by the Ministry of Trade, Industry, and Energy, and in 2021, we were selected as a “global hidden champion” by the Ministry of SMEs and Startups, and as an innovative healthcare device company by the Ministry of Health and Welfare. We were listed on KOSDAQ in 2018, and expect to reach 50 million dollars in exports this year.

 

Please briefly explain the characteristics of the x-ray diagnostic imaging devices.

「Seeking consumer satisfaction with a wide range of products」

Mobile C-Arm provides x-ray images of the inner part of the affected area during a surgery, and is used for minimally invasive surgeries that cuts only a small part of the skin. One of our flagship products, OSCAR 15, has a large 26㎝ X 26㎝ flat-panel detector and a large output of 15kW to provide a wide and clear image. Also, as it is equipped with digital subtraction angiography (DSA), it can be used for complex surgeries such as angiography. We provide a variety of products including the OSCAR 15 and OSCAR Prime with flat-panel detectors, as well as the OSCAR Classic and ZEN Series with image intensifiers. Accordingly, we currently have the largest share in the mobile c-arm market in Korea.

HESTIA is our recent diagnostic imaging device for the breast. With digital breast tomosynthesis, it provides a more accurate diagnosis than 2D imaging. It can control the pain that comes from pressure, which is a great concern for female patients, and there is an emergency stop button that can be used when needed.

 Dental x-ray devices provide images of the patient’s mouth to the medical staff. Our flagship model, PAPAYA 3D Premium Plus, is a 3-in-1 model with cone beam CT, panorama, and one-shot cephalometry functions. With a large CT sensor, its maximum field of view (FOV) is 23㎝ X 24㎝. Moreover, the device minimizes radiation exposure to the patient as it only takes 7.7 seconds to take the image. Also, our recently-launched DVAS, which is also called the standard x-ray model in the market, connects the x-ray shooting device to an arm attached to the wall or a chair, allowing the device to capture the image of the patient’s mouth with greater stability.

 

Lastly, we have the PORT-X series, which comprises small-sized X-ray generators. The device shoots X-rays to a sensor attached to the affected area within the mouth, and uses the particles to develop an image for the affected area. The most popular device within the lineup, PORT-X IV, has received the Red Dot Design Award for its design concept in 2017. Clients from all over the world have shown interest and have purchased the PORT-X IV at exhibitions. It is not only convenient, but also light enough so that operators with smaller frames can use it with one hand. The device can also be connected to WiFi to conveniently send the images to a computer or smartphone. 

 

What are your future business plans or blueprint after entering the foreign market? 

「Expanding the global distribution channels and strengthening our position with ODM」

Along with our three foreign offices in the US, Germany, and Japan, as well as our partners, we plan on focusing more on expanding the global supply chain. We have surpassed annual exports of 30 million dollars in 2019, and we are expecting to reach 50 million dollars in exports this year. We will increase the sales of our premium products in North America and Europe, and are currently on track to improve after-sales services and technical support with our foreign offices. In China, we will make more partnerships and strengthen our position in the market with original development manufacturing (ODM). In Japan, we plan to increase the sales of our dental equipment with a partnership with the global oral healthcare equipment manufacturer GC Corporation. Also, we will officially enter the Brazilian market, which is the largest market in Latin America. To ensure a smooth expansion of the foreign market, we also plan on obtaining certifications for healthcare devices in each region and to apply for and register patents to strengthen and expand our global sales. We hope to become a globally recognized brand when it comes to diagnostic imaging devices.