[Click eStock] "Seeas Technology, Innovating Medical Market with Wearable AI"

Korea Investment & Securities analyzed on the 27th that Seeas Technology is leading innovation in the medical market with digital healthcare solutions combining wearable medical devices and artificial intelligence (AI).

Yoon Cheol-hwan, a researcher at Korea Investment & Securities, stated in the report that day, "Seeas Technology is leading a paradigm shift in healthcare with technology that analyzes various biometric signals such as electrocardiograms, body temperature, oxygen saturation, and blood pressure."

The flagship product, mobiCARE, is a service that analyzes patients' electrocardiogram data to detect various types of arrhythmias and enables early diagnosis of cardiovascular diseases. mobiCARE holds over 70% market share in the long-term electrocardiogram testing market and is currently adopted by about 900 medical institutions in Korea.

Researcher Yoon said, "Seeas Technology has reduced the initial equipment adoption burden for hospitals through a subscription service model and enabled electrocardiogram testing at primary and secondary medical institutions," adding, "From 2024, it will expand into the health checkup market for office workers, accelerating its growth."

Another core service, thynC, is a wearable AI solution that monitors inpatients' biometric signals in real time. It has proven its usefulness in various environments such as cancer wards, emergency rooms, and stroke intensive care units. In 2024, it plans to expand services nationwide by signing a supply contract with Daewoong Pharmaceutical, targeting 900,000 hospital beds in Korea.

Researcher Yoon analyzed, "Seeas Technology has successfully entered the inpatient monitoring market, which was monopolized by existing global medical device giants."

Seeas Technology is also developing AI software for predicting heart diseases such as atrial fibrillation and heart failure based on 9 million hours of biometric data and clinical data from over 23,000 patients. Researcher Yoon said, "Seeas Technology is expanding the market beyond diagnosis and screening to the prediction field based on wearable medical devices and AI technology."

The company is also achieving results in overseas markets. mobiCARE services have been commercialized in Mongolia and Hong Kong, and preparations are underway to enter Kazakhstan, Thailand, Vietnam, and other countries. Researcher Yoon stated, "Based on success in the Asian market, we plan to expand global business to North America, Latin America, and Europe."

Seeas Technology recorded cumulative sales of 2.6 billion KRW in the third quarter of this year, a 160.3% increase compared to the same period last year. Researcher Yoon forecasted, "With the full-scale sales of mobiCARE and thynC, sales will reach 20.6 billion KRW and operating profit 2.3 billion KRW in 2025."

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