[Click eStock] "SeeasTech Leads the Popularization of Electrocardiogram Testing"

Yuanta Securities analyzed on the 14th that the long-term wearable electrocardiogram analysis solution 'mobiCARE' is leading the popularization of electrocardiogram tests in Korea and emphasized the need to pay attention to Seeas Technology.

Researcher Baek Jong-min of Yuanta Securities explained, "The main growth factors of the domestic electrocardiogram test market are the expansion to primary and secondary medical institutions and the increased demand for long-term testing," adding, "mobiCARE has entered over 1,000 hospitals nationwide, including 700 primary medical institutions, within four years of its launch."

He continued, "It holds more than 70% market share in the long-term test fee category (E6556)," and added, "Considering Japan's aging rate, the Korean market is expected to have high growth potential."

He pointed out, "Expansion into the screening market is also a key point to watch," emphasizing, "We plan to expand services from screening examinees to diagnosing those with suspected abnormalities."

Researcher Baek analyzed, "By signing supply contracts with KMI and the Health Management Association, we have secured a market of 4 million examinees," and estimated, "Based on the total domestic examinees of 17 million, the accessible sales scale for Seeas Technology is estimated at 212.5 billion KRW." He also explained, "About 50 billion KRW based on 4 million examinees," and added, "Sales visibility will increase as it is reflected in the basic product starting this year."