Company Name : Value and Trust Co., Ltd.
Industry Sector : Medical Devices (Spine)
Website URL: www. Vntc.me
Company Address: The Moon Building 4F, 526, Nonhyeon-ro, Gangnam-gu Seoul 06140 South Korea
Date Co Founded: 02/01/2016
Management Structure and Experience *
Paul Roe: CEO (Previously worked for Medtronic)
Bruce Kim: COO (Previously worked for Bayer)
Ugi Min: Medical Doctor (Orthopedic Surgeon/Professor of Kyungbuk University hospital)
Keith Lee: International Sales Manager (Previously CEO of PLEG)
Zoe Han: Designer (Previously worked for Benetton)
Company Milestones *
2016 Feb: Value and Trust Co., Ltd. Founded
2016 Oct: Kyungbuk University Partnership
2017 Jan: Blue Startups Pithing Competition Winner
2017 Oct: KFDA Registered (Class 1)
2017 Dec: LSK Investment (VC Korea)
2018 Jan Value and Trust affiliated research institute Founded
2018 Dec: FDA Listed, CE registered (Class 1)
2018 Nov: Launched Spinamic
2019 Nov: Korean Minister of SMEs Award
2019 Aug: IDEA Design Award Gold Prize Winner
2020 Feb: IF Design Award Winner
2020 Mar: Hanhwa Investment & Securities
2020 April: HSA (Singapore Medical Device Listed)
2020 Sep: Spinamic Version 1.1 Update
2020 Oct: Introduced Fitmove (B2C Spine Care Product)
2021 Mar: Total 30 distributors among nation wide South Korea.
2021 June: Signed Exclusive Distributor with Dong-A ST in South Korea 15 Million USD per year.
Competitive Advantage *
- Materials and Compliance
Due to bulkiness from the plastic material, and user "unfriendly" design, the compliance rate of conventional brace is only 15%, meaning 85% of the patients couldn't benefit from bracing. Especially, most of the patients being female adolescents, conventional brace treatment was not a pleasant experience.
- Convenient Management
Spinamic brace dramatically reduces the time of delivery, and also the cost, compared to conventional brace that required much more time to manufacture (hand-made) and with lack of adjustability. The inconveniences that patients had to suffer from had been reduced by our Spinamic brace, promising superb quality of life.
- Developing a broader product usage
Due to its compliance and adaptability, Spinamic shows a broader range indication than conventional braces. Spinamic can be treated for mild scoliosis patients or patients who do not comply with the conventional rigid brace. Especially, Juvenile Scoliosis patients and patients with disabilities such as neuromuscular diseases are struggling to wear rigid braces because of the rigid nature of the plastic, but Spinamic brace can be treated to such types of patients, widening medical benefits to more patients around the world.
- Business Opportunity
In terms of business, Spinamic is a scoliosis brace that can be manufactured in mass and customized within the product for each and varying condition of scoliosis patients. In other words, conventional scoliosis braces are hand-made one by one, significantly limiting business opportunities in terms of expansion and growth. Also, Spinamic is a prefabricated product with separable parts for simple and immediate customization, maximizing the market value of both business and clinical aspects.