Skylabs listed on the KOSDAQ market on Sept. 4 and is stepping up efforts to expand its global business.
Skylabs is a medical device company that collects and analyzes biometric data, centered on the ring-shaped, cuffless blood pressure monitor CART BP PRO. The device can measure blood pressure around the clock during daily activities and sleep and, as of June, had been adopted by more than 1,800 hospitals and clinics nationwide, including South Korea’s five major hospitals.
The company is also expanding its overseas business. It entered the European market based on CE-MDR certification and registration with the U.K.’s Medicines and Healthcare products Regulatory Agency (MHRA), and is pursuing expansion in Europe and Japan through partnerships with Omron Healthcare and Otsuka Pharmaceutical. Of its roughly $3.3 million in revenue in the first half of this year, overseas sales accounted for about $1.7 million, or 52% of the total.
Skylabs plans to expand its product portfolio from blood pressure monitoring to multivital monitoring and connect data accumulated through its own medical devices to clinical research and medical artificial intelligence (AI).
The company’s strategy is to use its clinical data platform CART NET to expand into areas including clinical trials for new drugs by global pharmaceutical companies, real-world evidence (RWE) and medical AI.
Lee Byung-hwan, CEO of Skylabs, said, “Based on the technology and business model validated in South Korea’s medical field, we will accelerate our entry into global markets and expand our business from blood pressure to multivital monitoring and medical data.”
Meanwhile, unlike conventional cuff-based devices that apply pressure to the upper arm, CART BP PRO is a ring-shaped medical device designed to measure blood pressure over extended periods. Rather than wrapping and compressing a cuff around the arm like a conventional blood pressure monitor, users simply wear it like a ring on their finger.
Once the device is worn, its sensors detect changes in blood flow in the finger, which AI analyzes to measure blood pressure. Because it can be worn for 24 hours, it can help clinicians identify changes in blood pressure throughout the day, including nighttime and morning hypertension that can be difficult to detect through one or two measurements at a hospital.