SHIN SUNG TK CO LIMITED with a revenue of 2100 Million, of South Korea in Joint Venture with Père-d-biz Consulting entered the healthcare segment in India. Mr. Ramneek Kumar Talwar and Mr. Vineet Agarwal of Père-d-biz Consulting, were in talks with Korean company, based out of Gwangju, Republic of Korea, and have been discussing with the possibilities of joining hands for one of their unique, recently invented and patented products based on IoT. After series of discussions and sharing lot of knowledge and information both the organizations came to a conclusion of starting the manufacturing of this unique patented device in India, under the name of SHIN SUNG TK INDIA PRIVATE LIMITED in MAKE IN INDIA program of our Hon’ble Prime Minister Shri Modi ji, and serve India and other countries as per strategy.
Mr. EUN-SUAB LIM - President of SHIN SUNG said that the product iRINGER, is a result of very intense R&D done in the Research and Development Institute of SHIN SUNG in South Korea. We are pleased to inform that iRINGER product is newly invented and has obtained 5 patents and awaiting for 5 patents allotment, internationally. There were many countries running after taking this opportunity to manufacture iRINGER in their respective countries, but with the help of Indian Embassy in Republic of Korea, INDIA INVEST and KOREA PLUS team a Joint Venture agreement was signed between SHIN SUNG TK Co LTD and Père-d-biz Consulting on 1st April 2019, to manufacture the product in India to address the indigenous and global demand.
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.
iRINGER will report and manage the setup of the speed of drops as prescribed by doctor and specific to the medicine used for IV. In particular, iRINGER provides alarm through smart call (automatic call) in case of abnormality and receives favourable response from hospital nurses. In April, last year, company won the Excellence Gold Award at the International Invention Exhibition in Geneva, Switzerland. Mr. 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.
Mr. EUN-SUAB LIM further added that Indian manufacturing unit will supply to other countries in globe to address their demand. Mr. Lim mentioned that under the influence of Prime Minister Shri Modi we are 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.
Mr. 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 the whole globe as a revolution in the 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 Mr. 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 Mr. Vineet Agarwal.
After visiting India, we are deciding to create a Research & Development unit here in India and Software development house for research to keep moving forward in the right direction and for the benefit of the masses across the world and strengthen the purpose of Make in India program of Prime Minister Shri Modi” said Mr. LIM.