[Click eStock] "DoubleUSI Secures Future Growth Engine Based on Stable Cash Cow"

Daishin Securities analyzed on the 23rd that DoubleWSI is securing future growth engines based on a stable cash cow foundation. No investment opinion or target price was presented.

Researcher Han Song-hyeop of Daishin Securities stated, "DoubleWSI plans to enter new businesses with high growth potential based on its stable existing distribution business," adding, "It is currently striving to secure a leading position in advanced medical fields such as surgical robots and cardiovascular devices."

DoubleWSI invested 18.8 billion KRW to acquire a 67% stake in IntroBioPharma. Researcher Han said, "They have secured a company with PIC/S GMP certified facilities and excellent formulation development capabilities," and added, "IntroBioPharma holds approvals for 149 items mainly focused on circulatory and metabolic therapeutics and distributes 105 items."

He emphasized, "We expect various synergy effects from this acquisition," and continued, "In addition to synergies with the existing network of over 400 hospitals and clinics, it is expected to reduce risks in the distribution business and diversify business areas, thereby establishing a stable profit generation base."

They also plan to enter the medical robot market through a subsidiary. He said, "The flagship product 'Ubot' of the subsidiary EasyMediBot will improve surgical convenience and accuracy for medical staff, contributing to alleviating medical workforce shortages and improving inefficient surgical environments," and added, "The high consumables sales ratio in the robot business will contribute to building a stable revenue model."

Additionally, accelerated high-profit growth is expected through entry into the cardiovascular interventional procedure business. He stated, "They are entering the high-growth cardiovascular interventional procedure market to secure new growth engines," and said, "Based on strong partnerships with global medical device companies such as KIMAL in the UK and LifeTech Scientific Corp in China, as well as an innovative product lineup, they will expand the high-priced, high-profit cardiovascular interventional procedure business and strengthen market dominance."