Wearable AI diagnostics and monitoring company Seers will hold a corporate presentation for global institutional investors in Singapore.
Seers disclosed Sept. 9 that it will conduct a Non-Deal Roadshow (NDR) for major global institutional investors in Singapore from Sept. 16-17.
The event will be the company’s second overseas corporate presentation this year, following one in Hong Kong in January, and its first corporate presentation in Singapore since its listing. Through the NDR, Seers plans to explain its earnings growth this year and strategy for expanding its global business while broadening its overseas investor base.
Seers reported revenue of $40.6 million and operating profit of $17.9 million in the first half of this year. The company plans to emphasize to global investors that it has established a profitable business model among South Korean medical AI companies while continuing to deliver earnings growth.
Its core business is the AI inpatient monitoring platform thynC. The platform is an infrastructure-based AI solution for hospitals that continuously monitors patients’ vital signs 24 hours a day through fixed wireless gateways and wearable devices and integrates with electronic medical records (EMRs).
Its overseas business has also entered the commercialization stage. Seers signed a supply agreement worth about $14.7 million with an affiliate of PureHealth, a local health care group in the United Arab Emirates (UAE), for its MobiCare solution. The company is also preparing to apply the service to outpatient arrhythmia testing and national health screening programs.
Seers is also pursuing deployment of its thynC inpatient monitoring platform at hospitals in the UAE. It is accelerating its business expansion by preparing initial supplies for local commercialization.
In North America, MobiCare, a wearable AI electrocardiogram analysis solution, is considered its flagship product. After receiving U.S. Food and Drug Administration (FDA) 510(k) clearance in June, the company recently secured Class II medical device approval in Canada, establishing the regulatory foundation for its entry into North America.
Seers expects that once MobiCare’s overseas expansion gains momentum after demonstrating its commercial viability in South Korea, it will secure additional growth opportunities in terms of both revenue and profitability.
“Seers is entering a new stage of growth by expanding its AI-based medical business model, which has been validated in South Korea, into global markets,” a Seers official said. “Through this Singapore NDR, we will actively communicate our growth demonstrated by our financial performance and the potential of our overseas business to global investors, while expanding our overseas investor base.”
Meanwhile, the name Seers carries the meaning of “pioneer.” It reflects the company’s founding philosophy of anticipating changes in the medical environment and creating new health care systems from a time when digital health care had yet to be commercialized.