Seegene establishes a subsidiary in Colombia

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Seegene establishes a subsidiary in Colombia

Logo of Seegene [SEEGENE]

Logo of Seegene [SEEGENE]

  
Test-kit maker Seegene said Tuesday it has established a subsidiary in Colombia in a move to expand its presence in the Latin American market.  
 
Seegene Colombia, which is headquartered in Bogota, Colombia, began operations in mid-October. It is Seegene’s eighth overseas subsidiary, and the third in Latin America after the opening of its Brazil and Mexico subsidiaries.
 
Seegene believes Colombia is a great country for expansion as its market of in vitro diagnostics — which refers to testing blood or tissue samples taken from the human body — is valued at 500 billion won ($424 million), the second largest in Latin America after Brazil. Of that, over 50 percent is for molecular diagnostics.  
 
“It is anticipated that the molecular diagnostic market in Latin America will grow more amid the pandemic,” said Yi Ho, chief sales and marketing officer of Seegene. “Through our new subsidiary, Seegene will endeavor to expand our overseas sales with introduction of diagnostic tests to detect various viruses in addition to Covid-19 such as human papillomavirus, sexually transmitted infections and tuberculosis.”
 
Colombia has reported nearly five million coronavirus infections and more than 125,000 related deaths as of end of October. In 2020 alone, Seegene exported over 3 million test kits to Colombia, the second largest export market in Latin America after Brazil.

BY SARAH CHEA [chea.sarah@joongang.co.kr]
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