[Click eStock] WSI, Re-rating Expected with New Drug Development and Surgical Robots

GL Research analyzed on the 8th that WSI is expected to be re-rated due to its new entry into the surgical robot business and pharmaceutical manufacturing business. No investment opinion or target price was provided.

WSI has completed building a portfolio with products that have high marketability in each field based on a network of over 400 hospitals and clinics nationwide. Following its existing pharmaceutical distribution business, it is expanding its business area to medical consumables. Changyun Park, a researcher at GL Research, said, "WSI is diversifying its product portfolio from pharmaceuticals to medical devices and medical consumables through long-term contracts with numerous global healthcare companies," adding, "It is currently pursuing entry into the high-growth cardiovascular interventional medical device business."

In addition to its existing business, WSI has entered the new surgical medical robot market. Through its subsidiary EasyMedibot, WSI has completed the development of 'U-bot,' an assist robot for obstetrics and gynecology laparoscopic surgery and drug injection. It is currently in the process of applying for patents to enter the U.S. and European markets.

He explained, "U-bot can improve the overall surgical environment by replacing uterine position control, which requires specialized medical personnel due to its high importance in surgery, with a robot performing simple tasks," adding, "It will contribute to alleviating the manpower shortage in obstetrics and gynecology, which is currently experiencing a shortage of medical staff."

Along with this, synergy with existing businesses is also expected through the acquisition of IntroBioPharma. He said, "IntroBioPharma possesses its own pharmaceutical manufacturing facilities and pharmaceutical formulation development technology," adding, "There are plans to build a new factory equipped with an automated line in the future." He emphasized, "Stable revenue sources and profitability are expected through increased productivity and efficiency."