Medipost Reports Q1 Sales of 15.4 Billion KRW... Highest Quarterly Revenue Ever

[Asia Economy Reporter Hyungsoo Park] Medipost has achieved its highest quarterly sales ever.

Medipost announced on the 8th that it recorded sales of 15.4 billion KRW in the first quarter of this year, an 18.2% increase compared to the same period last year. Operating loss widened to 1.9 billion KRW compared to the same period last year. The company explained that the cost of sales increased due to recent inflation and selling and administrative expenses such as research and development costs also rose. It recorded a pre-tax loss of 6.7 billion KRW and a net loss of 6.1 billion KRW due to derivative valuation losses and equity method valuation losses.

The cord blood business division, which operates ‘Celtree,’ the No. 1 domestic cord blood bank in market share, saw sales increase by 29.5% compared to the same period last year. Despite a decrease in the number of newborns and intensifying competition, growth continued based on long-standing trust.

The Cartistem business division, which produces stem cell treatment for knee osteoarthritis, saw sales increase by 3.5% compared to the same period last year, supported by an increase in severe surgical patients. It has grown consecutively for 10 years since product approval. Cartistem is expected to continue growing this year. The health functional food brand Mobita increased sales by 11.4% compared to the same period last year, driven by active marketing through diversification of online sales channels and increased sales of women-only products.

A Medipost official said, “All business divisions grew evenly in the first quarter of this year,” adding, “We will strive to achieve the highest annual sales ever as Celtree and Cartistem further solidify their market dominance based on long-standing trust.”

In March, Medipost signed an investment contract worth a total of 140 billion KRW with Skylake Equity Partners and Crescendo Equity Partners. The company is accelerating its entry into the North American CDMO market and overseas clinical trials.

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