South Korean company, Shin Sung Tk Co Limited with a revenue of 2100 Million, announced a joint venture with Noida based Père-d-biz Consulting to market and distribute their IoT based IV smart monitoring system – iRinger. The product will be manufactured in India by Shin Sung Tk India Private Limited.
Sensing and sensing data of fluid input using Micro B / D based Control B / D is applied to Smartphone App.
Out of reported deaths of 1.62% approximately patients die globally, every year, due to lack of improper and unsystematic management of IV infusion system. This product is the need of hour and will be able to save lives of patients globally in coming years, the company said.
Ramneek Kumar Talwar mentioned that under existing IV infusion management system we have many challenges for doctors, nursing Staff and attendants. iRINGER will remove all such challenges and provide better time, money, patient management, by over-ruling the current risk areas.
EUN-SUAB LIM, President of Shin Sung further added that Indian manufacturing unit will supply to other countries across the globe to address their demand. Lim mentioned that the company is going to invest approximately $ 40 million and more, in different phases in India, as per the requirement and going to generate a large number of the employment across India in R&D, Sales & Marketing, Pre-sales & post-sales support and Software Development area.
Ramneek said, that this product iRINGER is internationally recognized invention and for future expansion many venture capitalists have started approaching the company for investment to take this product further in whole globe as a revolution in healthcare industry. “We are doing further research and as a road map of the product, we are going to expand multiple usage of the iRINGER to benefit people at large across the globe” said LIM. We are very proud of Indian Embassy in Republic of Korea, The Korea Plus team of India Invest which leads the investment promotion and startup said Vineet Agarwal.