[Click eStock] "MoaData, Evolving into Digital Healthcare"

Hana Securities analyzed on the 12th that MoaData is evolving into the digital healthcare sector.

MoaData is a company that provides anomaly detection and prediction solution products utilizing AI technology. To prevent ICT infrastructure failures, it launched the anomaly detection and prediction solution product AIOps (artificial intelligence for IT operations) ‘PetaOn Forecaster’ in 2015, the first of its kind in the domestic market.

It is a product that uses big data and AI to predict ICT system failures and enable proactive response solutions, currently securing about 300 client companies.

Choi Jae-ho, a researcher at Hana Securities, stated, “Recently, the business is expanding into the bio healthcare service sector that detects abnormalities in the body.” He explained, “Starting with the AI digital pet healthcare company ‘Sage & Company’ in August 2022, we acquired the digital healthcare specialized company ‘MediAge’ in January last year, and in March, we secured a 19.2% stake in the KOSDAQ-listed company ‘BL (currently MoaLifePlus),’ which operates new drug development and pharmaceutical distribution businesses, becoming the largest shareholder.” As of the first quarter, the sales ratio is 90.2% from AI anomaly detection and 9.8% from digital healthcare.

MoaData is strengthening its portfolio in the healthcare service sector by utilizing its core proprietary technology of anomaly detection and prediction services. ‘HealthSketch,’ jointly developed with its affiliate MediAge, is a digital healthcare service platform that integrates body sensor data and health checkup data analysis, which was first unveiled at CES 2024 and won an innovation award in the digital healthcare field.

Researcher Choi said, “Through service advancement, we plan to officially launch it as an integrated healthcare platform in the second half of this year.” He added, “We will collect real-time health information through health checkup data and the wearable device ‘FlowFit’ developed by the company, and provide checkup analysis and personalized health management solutions through the integrated platform.”

He also said, “For personalized nutrition management, health functional foods will also be recommended and distributed.” He forecasted, “A full-scale expansion into the digital healthcare sector is expected through synergy among the company, MediAge, and MoaLifePlus. Since it enables real-time health anomaly detection and risk analysis through the fusion of existing health checkup data and real-time sensor data in a personalized form, it will establish itself as a new growth engine after settling in the service market.”

Furthermore, he analyzed, “MoaData’s performance this year is expected to reach sales of 26.9 billion KRW and operating profit of 1.5 billion KRW, increasing by 9.6% and turning profitable compared to the same period last year.” He added, “Although additional R&D expenses will be incurred due to new service development compared to previous years, the increase in demand for the core business PetaOn Forecaster, the launch of new services by insurance companies, and the launch of new services such as disaster rescue search equipment will expand sales volume, allowing the company to enjoy operating leverage effects.”

He continued, “With the increase in ICT system failures, continuous expansion of the client base is expected, and growth potential is anticipated after settling in the digital healthcare service market.”