Wearable artificial intelligence (AI) diagnostic monitoring company Seers Technology is ramping up its expansion into the Middle East market. The firm is bullish on its international prospects, projecting that overseas sales will match domestic revenue by 2029 as foreign operations stabilize.
Chief Executive Officer (CEO) Lee Young-shin held a corporate briefing on Wednesday at the Conrad Hotel in Yeouido, Seoul, outlining the company’s management status, business achievements, and global expansion strategy.
Seers posted record quarterly sales of 20.4 billion KRW (about 13.9 million USD) and an operating profit of 8.7 billion KRW (about 5.9 million USD) in Q4, maintaining its streak of impressive profitability. The company’s 2024 sales of 8 billion KRW (about 5.5 million USD) marked a dramatic turnaround from the previous year’s loss, with 2025 revenues soaring to 481.7 billion KRW (about 329 million USD) and operating profit reaching 163.3 billion KRW (about 112 million USD). This represents a staggering 495% year-over-year growth in sales, with the company’s flagship thynC platform seeing a 1,046% surge in revenue.
With these results, Seers has become Korea’s first medical AI company to achieve annual profitability, capping off its 2025 performance report. The simultaneous improvement in sales growth and operating margins underscores the success of its wearable AI-based medical solutions and the robustness of its revenue model.
thynC: A Platform Built For Recurring Revenue
Seers’s growth engine is its wearable AI-based inpatient monitoring platform, thynC (thynC™). This innovative solution analyzes and monitors patient conditions in real-time within hospital wards, boosting both medical staff efficiency and patient safety.
The thynC business model is designed to generate recurring revenue after initial installation. The company first sees revenue from bed installations, followed by ongoing subscription fees from existing setups.
This creates a dual growth structure, combining recurring revenue from existing beds with new installation income. Seers anticipates that as five-year hospital contracts accumulate, renewal and repurchase demand will accelerate post-2030, rapidly increasing the share of recurring revenue in its sales mix.
Lee emphasized that thynC isn’t just about the initial setup. It’s a system where revenue compounds over time from existing installations. The synergy between expanding the installation base, growing recurring revenue, and developing next-generation smart wards will cement thynC as the cornerstone of the long-term performance.
MobiCare: Spearheading International Expansion
MobiCare (mobiCARE™), Seers’s wearable electrocardiogram (ECG) analysis solution, serves as both a strategic extension of its inpatient monitoring platform and a crucial entry point into overseas markets. This versatile tool enables early arrhythmia detection and remote monitoring for outpatient, screening, and home-based care, while also enhancing the company’s wearable AI data ecosystem across various healthcare settings.
Through MobiCare, Seers aims to capture the demand for repeated examinations in outpatient and screening services. Long-term, the company plans to integrate this with the thynC infrastructure to create a comprehensive wearable AI monitoring system spanning inpatient, outpatient, and home care.
Seers has also unveiled its international strategy, positioning the United Arab Emirates (UAE) as a strategic launchpad for global expansion. The company is fast-tracking efforts to secure key references for global growth through its collaboration with PureHealth, the UAE’s largest state-owned healthcare group.
The partnership with PureHealth will see Seers gradually roll out its entire product line, starting with MobiCare-based arrhythmia screening for outpatients, followed by the thynC inpatient monitoring platform and remote patient monitoring (RPM) services.
Based on this strategy, Seers projects that its international sales will rival domestic revenue by around 2029.
Lee concluded that it is leveraging the domestic success to establish the wearable AI medical platform as a global leader. Its roadmap beyond 2026 focuses on sustainable growth and international expansion in tandem.
