Executive management from INFINITT Co. Ltd. and SmartPACS recently announced the signing of a joint venture agreement between the two PACS companies, which follows a memorandum of understanding signed in January. The two companies developed a professional partnership in 2000 focused on the North American PACS market. As part of the agreement, SmartPACS will officially change its name to INFINITT North America, Inc.
"This joint venture agreement will greatly impact the PACS market," says INFINITT President & CEO Sun joo Lee. "It will quickly and efficiently enable us to gain global presence, while allowing us to establish and strengthen our infrastructure and management. Moreover, it will greatly aid in the development of solutions that are designed for the needs of North American customers."
Other effects of the agreement include changes in brand identity. The product line will be branded INFINITT, while the service and financial models will be branded as SmartPACS EIMS. INFINITT will provide equity financing to its North American counterpart, in order to thrust the company forward with sales, service, marketing and support. Plans have been formed to bring in on-site engineers to handle local software issues, the companies said.
"This agreement sets the stage for a dynamic opportunity to further develop PACS, 3D and RIS products," says Charles Kim, INFINITT's North American contact. "Customer service will be enhanced and improved upon, as well."
According to Kim, the agreement will also help to strengthen partner relations for domestic sales in North America. INFINITT is targeting $60 million in sales for 2005.