LG to expand medical equipment business with pain-relieving device

LG Electronics Inc. is expanding its business scope to the medical equipment sector with a plan to unveil a pain-relieving device in an effort to gain a greater share of the fast-growing beauty and healthcare sector.

According to the electronics industry on Wednesday, the South Korean home appliance giant will soon release a pain relief device, tentatively named MediPain, for use in pain clinics and rehabilitation hospitals.

The company has already finished the development of the device and is expected to showcase it at the CES 2022 to be held in Las Vegas in January, industry officials said.

LG has also obtained product quality certifications from the Ministry of Food and Drug Safety for the device’s electrical stimulators.

With an LCD screen and electrical stimulation pads, MediPain is designed to ease or relieve chronic pain, acute pain after surgeries and muscular pain, according to industry officials.

EXPANDING BUSINESS SCOPE TO MEDICAL CARE

Since the launch of its beauty and healthcare brand Pra.L. in 2017, LG Electronics has unveiled a series of household beauty appliances such as an LED mask, a facial cleanser for skincare and a hair growth helmet.

More recently, the company also started to make medical devices as it expands its business scope.

LG in June unveiled a digital X-ray detector (DXD) with artificial intelligence solutions.

Last month, the electronics maker signed a memorandum of understanding with Korea Advanced Institute of Science and Technology (KAIST) to jointly launch a digital healthcare center.

LG said a growing number of local hospitals, including Seoul National University Hospital, Kyunghee University Medical Center and Kyungpook National University Hospital, are adopting its medical equipment.

The company is also widely expected to launch MediPain not just for hospitals but also for use at home under the LG Pra.L brand.

Last year, it launched LG Pra.L MediHair, a hair loss treatment device, and LG Pra. L EyeCare, an eyewear device for skin tone, dark circles and eye bags.

The global wearable medical device market is forecast to grow at an annual average rate of 9.96% to $27.1 billion by 2024 from $16.8 billion in 2019.

Write to Sung-Soo Bae at baebae@hankyung.com
In-Soo Nam edited this article.