SkyLabs Debuts on KOSDAQ…“Aiming to Become a Global Medical Data Production Platform”

Overseas Sales Account for 52% of First-Half Revenue
Mid-to-Long Term Growth Expected Through Multi-Biomarker Monitoring

On September 4, SkyLabs was listed on the KOSDAQ market and announced plans to expand its cuffless blood pressure monitoring business globally, while broadening its business scope as a multi-vital and medical data production platform.

On the 4th, at the listing ceremony held at the Korea Exchange in Yeouido, Seoul, Byunghwan Lee, CEO of Skylabs (on the podium), along with executives and related personnel, conducted a drum-beating ceremony celebrating the KOSDAQ listing and the start of trading. Skylabs

SkyLabs is the world's first company to develop a ring-type cuffless blood pressure monitor. Moving beyond simple medical device manufacturing, the company aims to be an 'AI-driven medical data production platform' that generates highly clinically reliable biometric data based on its proprietary hardware and artificial intelligence (AI) algorithms.

The core product, 'CART BP pro,' is a ring-type medical device that allows patients to measure 24-hour blood pressure changes without disrupting daily life or sleep. As of June, it had been introduced in around 2,000 hospitals and clinics across South Korea, including the nation’s top five tertiary hospitals.

During the year following the launch of CART BP pro, the total number of 24-hour ambulatory blood pressure monitoring (E6547) prescriptions in South Korea increased by 52.7% compared to before the launch. The company explained that CART BP pro captured a 52.4% market share in this segment, not only replacing existing devices but also generating new demand for overall blood pressure testing.

Globally, the company is also achieving visible results centering on its blood pressure monitor product. In addition to proactively obtaining certification under the European Medical Device Regulation (CE-MDR) and registration with the UK’s Medicines and Healthcare products Regulatory Agency (MHRA), SkyLabs recently signed a supply agreement with IEM, a leading European ambulatory blood pressure monitoring (ABPM) company. This agreement marks the full-fledged entry into the hospital and clinic markets of major European countries such as the UK and Germany. Thanks to these achievements, overseas sales accounted for 52% of SkyLabs’ total sales in the first half of this year.

The company is also leveraging partnerships with global medical device and pharmaceutical companies, such as Omron Healthcare and Otsuka Pharmaceutical, to expand into the European and Japanese markets, while also pushing for entry into the U.S. market through FDA approval.

SkyLabs plans to diversify its product lineup from the existing CART blood pressure monitors into the multi-biomarker segment, and to expand into high value-added data fields such as pharmaceutical clinical trials and medical AI through the medical data production platform ‘CART NET’.

SkyLabs CEO Lee Byunghwan stated, “We will accelerate our entry into global markets following the listing and, based on our accumulated medical data, evolve into a global medical data production platform company.”

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