GCMS is one of the first-generation service providers of vitro diagnosis, which we used import in the 1960s and 70s. Our company dates back to 1972 when GCMS jumped into the in vitro diagnosis business by setting up a dedicated organization and has achieved phenomenal growth. GC Pharma spun off its Diagnosis Business Division to set up an independent corporation dedicated to diagnostic reagent in 2004. GC Pharma has made remarkable contributions in leading the growth and development of our domestic diagnosis industry for the past four decades.
Since 1972 when the first blood grouping reagent was introduced to market, our company has developed and distributed a variety of sophisticated reagents to medical institutions at home and abroad. These include infectious diseases (HIV, HBV, HCV, etc.) test reagents, and tumor marker and parasitological test reagents which require very advanced technologies.
In addition, the company established a cooperative marketing partnership in 1978 with Boehringer Ingelheim, a world class diagnostic reagent company based in Germany, and co-founded Green Cross Boehringer Ingelheim Co., Ltd., a cooperative joint venture in 1992. This joint venture enabled the company to achieve impressive growth in the major areas of in vitro diagnosis, including clinical immunity, clinical chemistry, and diabetes diagnosis. The company also developed and introduced GENEDIA HIV 1/2 ELISA, an HIV/AIDS diagnostic reagent, for the first time in Korea in 1987 through long-term consistent R&D efforts as part of our commitment to promoting public health.
GCMS was founded in 2004 as an independent corporation in a bid to diversity our business portfolio to medication equipment, and devices and other supplies in addition to the in vitro diagnosis business.
GCMS has achieved annual growth of 20% or more in its relevant market, and more recently pushed ahead with upgrading diagnostic reagents based on real-time molecular reagents and specific recombination antibody forming technology.