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Press Release

Coloplast reaches milestone in South Korea


Posted on: 29 Nov 16

The government of South Korea will be improving subsidies to the country’s catheter users after the turn of the year, marking a breakthrough for Coloplast’s Continence Care business in the country.

Thousands of South Koreans suffering from disorders such as spinal cord injury, multiple sclerosis and Parkinson’s disease will be able to opt for better and more modern catheters next year. Public reimbursement rules in South Korea have been improved, and that is good news to Coloplast, as the company aims to outgrow the market in the Continence Care business area.

An estimated 25,000 users in South Korea who need help emptying their bladder are covered by the public reimbursement scheme in the country, and they will now be able to opt for modern catheters. According to Coloplast CEO Lars Rasmussen, the reimbursement will support the company’s growth opportunities in South Korea.

"This is good news for Coloplast in South Korea and for the users, whose everyday lives will be made easier with the benefits of modern catheters, enabling them to live the life they want to", says Coloplast CEO Lars Rasmussen.

Previously, South Korea only offered reimbursement to a limited group of users, but the improved access will allow all catheter users covered by the national health insurance access to better products.

Continence Care is Coloplast's second-largest business area, accounting for some 35% of consolidated revenue. Coloplast’s other business areas are Ostomy Care, Wound & Skin Care, and Urology Care. Last year, Coloplast generated revenue of DKK 14.7 billion.

Facts:

  • The new reimbursement rules apply to persons who needs help to empty their bladder due to acquired disability and who are registered with the national health insurance in South Korea. Previously, only patients with Spina Bifida were covered.
     
  • The reimbursement will improve the quality of life of the users. Instead of reusing their catheters, they can now use a new one each time they need to empty their bladder.
     
  • The new reimbursement rules take effect on 1 January 2017.
     
  • Coloplast is represented in over 130 countries and has approximately 10,000 employees.

         Contact:
         
         Maria Lindeberg, Senior Media Relations Manager
         
         Tel: + 45 49 11 30 95
         
         dkmalg@coloplast.com

GlobeNewswire
globenewswire.com

Last updated on: 29/11/2016

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