'Foreign Patient Platform' HiMedi Successfully Secures Additional Series A Investment

Participation of TBT Partners and Whitestar... Cumulative Investment of 11 Billion KRW
Global Market Expansion and Strengthened Overseas Promotion
Expecting Rapid Sales Growth

[Asia Economy Reporter Lim Jeong-su] HiMedi Co., Ltd., which operates a platform for attracting foreign patients, announced on the 22nd that it has successfully secured an additional 3 billion KRW in Series A investment. Despite the COVID-19 pandemic, it has succeeded in two rounds of investment, bringing the total accumulated investment to 11 billion KRW.

This investment was led by TBT Partners (TBT). Global venture capital White Star Capital also participated in the investment. Previously, based on its outstanding expertise in attracting foreign patients, it secured 2 billion KRW in seed investment and 6 billion KRW in Series A investment.

HiMedi introduced concierge services including interpretation, accommodation, and transportation for Middle Eastern patients for the first time in Korea in 2011, and launched a foreign patient attraction platform last year. It enables reservations for more than 90 medical treatments at over 50 hospitals, including six domestic hospitals ranked among the global top 100, and also provides accommodation and airport limousine services.

Earlier this year, HiMedi expanded to non-face-to-face medical services for severely ill foreign patients who had difficulty accessing hospitals due to the COVID-19 pandemic. Foreign patients receive remote medical consultations with Korean medical staff and, if necessary, enter Korea for surgery. This results in an average medical fee of about 17 million KRW per person, which is considered a distinctive advantage.

HiMedi plans to use the investment funds to expand its presence in the with-global market and to quickly secure market leadership. It is conducting country-specific non-face-to-face medical promotions to raise awareness in key target countries such as Mongolia, Russia, the Middle East Gulf Cooperation Council (GCC), and Kazakhstan. Services and promotions targeting the Southeast Asian market, where there is high demand for not only severe cases but also plastic surgery and beauty, are also being prepared.

The range of supported languages will also be significantly expanded. Currently, HiMedi provides services in English, Arabic, Russian, and Mongolian. Indonesian and Chinese will be added sequentially in the future.

Lee Chung-wook, TBT investment analyst, said, "The medical tourism market is expected to grow significantly due to Korea’s high-level medical technology and advanced hospital infrastructure," adding, "HiMedi focused on building a digital platform during the COVID-19 period and launched services faster than expected, so a sharp increase in sales is expected from next year."

Lee Jeong-ju, CEO of HiMedi, said, "We have already confirmed the recovery of demand for Korean medical tourism through the non-face-to-face medical services started this year," and added, "We plan to focus on stable profit generation at the time when overseas travel fully resumes."

This content was produced with the assistance of AI translation services.