GC MediAI Reports 6.2 Billion Won Operating Profit in H1, Up 302% Year-on-Year

Sales Reach 101.4 Billion Won... Expansion of Core Businesses and Improved Subsidiary Profitability
Subsidiaries Like Cretame Post Enhanced Performance

GC MediAI announced on August 10 that its consolidated sales for the first half of this year reached 101.4 billion won, with an operating profit of 6.2 billion won. Compared to the same period last year, sales increased by 7.9%, while operating profit grew by 302.3%. The company attributed the improved performance to the expansion of sales in its core businesses such as medical infrastructure and commerce, as well as improved profits from subsidiaries.

GC MediAI company logo image. GC MediAI

The medical infrastructure division saw increased sales thanks to expanded sales of value-added solutions and higher average selling prices. The data & marketing unit maintained its performance, driven by its pharmaceutical data-based business. In the commerce division, sales were bolstered by an increase in new customers at the medical e-commerce platform 'Misomall.com', expanded sales of medical consumables, and increased unit prices of AutoPack consumables.

Within the platform division, commission revenue started to be reflected as a result of integrating the patient platform 'Ddokdoc' with the Doctor's EMR system. GC MediAI is advancing a 'Toll Road' business model, in which external services that connect with Doctor's EMR pay a commission fee. The company plans to expand integrated services to cover actual loss insurance claims and financial offerings in the future.

The consolidated subsidiary Cretame reduced its operating loss in the first half by 1.7 billion won compared to the same period last year, by improving its cost structure in labor, materials, and quality-related areas. In the second half, the company aims to further improve sales and profitability through the normalization of overseas distribution channels and by strengthening its domestic after-sales service competitiveness.

GC MediAI presented a consolidated annual operating profit guidance of 13.5 billion won this May. With 6.2 billion won in operating profit recorded in the first half, the company has achieved about 46% of its annual target.

GC MediAI is also expanding its AI business. The recently launched 'Doctor's AI' offers functions such as healthcare-specialized speech recognition (STT), automatic S.O.A.P charting, AI-based disease and prescription search, and AI assistant features.

The company plans to expand users of Doctor's AI based on the Doctor's EMR, which is used in approximately 16,000 hospitals and clinics. Until the end of this year, the service will be provided free of charge, and it will be linked with Ddokdoc, actual loss insurance claim, and financial services via the Doctor's EMR. In the future, the company will pursue a subscription-based business model that combines AI with a cloud-based EMR solution.

Jintae Kim, CEO of GC MediAI, said, "The growth of our core businesses, such as medical infrastructure and commerce, and improved profitability at our subsidiaries were reflected in our first-half results," adding, "In the second half, we aim to achieve the annual operating profit guidance of 13.5 billion won by expanding Doctor’s AI and new revenue models."

This content was produced with the assistance of AI translation services.