[Click e-Stock] "WSI's Medical AI Robot Business Enters Full Growth Trajectory"

On November 7, KB Securities analyzed that WSI is accelerating its two-track growth strategy, focusing on the development of medical AI robots and the distribution of cardiovascular medical devices as its two main pillars.

Kim Hyungyeom, a researcher at KB Securities, stated, "Through the two-track strategy of developing innovative medical AI robots and expanding the high-growth cardiovascular medical device distribution business, WSI is securing a stable revenue base and future growth drivers, which warrants attention."

In the first half of this year, WSI recorded sales of 25.81 billion won, up 58.7% from the same period last year. Operating profit was 2.16 billion won, an increase of 10.0%. The performance of Introbio Pharma was reflected, resulting in significant sales growth; however, profitability slightly weakened due to increased selling and administrative expenses from expanded R&D investment and workforce expansion.

Researcher Kim explained, "The medical AI robot business of subsidiary EasyMedibot is on a growth trajectory. The 'U-BOT', an assistive robot for gynecological laparoscopic surgery and drug injection, is expected to complete applications for product approval and quality management certification with the Ministry of Food and Drug Safety within this year. If things proceed quickly, product approval and launch could be possible by the end of the first half of 2026." He added, "Attention should be paid as the combined use with the world's No. 1 medical robot, Da Vinci, can help address the shortage of medical personnel."

WSI is also pursuing a mid- to long-term roadmap to expand its medical AI robot portfolio. The company is currently in the process of obtaining patents in the United States and Europe, and plans to expand its product lineup to include robots for brain surgery (B-BOT), skull base surgery (E-BOT), and cardiovascular procedures (C-BOT). In particular, development of B-BOT is progressing rapidly with the goal of obtaining approval from the Ministry of Food and Drug Safety by 2027. Researcher Kim commented, "By segmenting the R&D domain to build product commercial viability and specialized technology, WSI is expected to enhance its technological capabilities and market potential, leading to a rise in valuation."

Meanwhile, the company is also strengthening its cardiovascular and heart failure-related medical device business, which has high market growth potential due to the aging population. WSI has signed exclusive distribution agreements with global catheter company KIMAL and Europe's top structural heart disease company Lifetech, and has expanded into the heart failure diagnosis sector through an exclusive domestic contract for Mitrassist's pulmonary edema diagnostic equipment. Researcher Kim emphasized, "These products are expected to become mid- to long-term cash cow businesses with high profitability and deserve attention."