‘Saintmed Pcl.’ reveals strategy to achieve excellence in medical devices and medical supplies and to be a leading special need medical device distributor of respiration system and lifesaving to serve Thailand’s entering to aging society and healthcare society
Saintmed Public Company Limited (SMD), the distributor of leading global medical devices and supplies prepares for raising capital through the Market for Alternative Investment or mai in order to be a leading distributor of special need medical device of respiration system and lifesaving to achieve excellence in medical devices distribution and services and medical supplies. With advanced innovation for Thais’ safety and good health, it is to serve the changing way of life which is entering to aging society and healthcare society.
Dr. Viroj Vasusuttikulkant, Chief Executive Officer of Saintmed Public Company Limited or SMD, the importer and distributor of leading global medical devices and supplies reveals the Company’s preparation for the initial public offering or IPO to list on the Market for Alternative Investment (mai) in order to strengthen its financial status and to attain sustainable growth. Through the Company’s vision of ‘determination to be a leading distributor of special need medical device of respiration system and lifesaving’ to achieve excellence in medical devices medical supplies distribution, more than 20 years of business experience and advanced innovative products of international standard of the Company have been dedicated to Thais people’s safety and good health to serve the changing way of life which is entering the aging society and healthcare society.
In addition, upon receiving confidence from more than 30 leading global medical device and supply manufacturers, this has supported SMD with competitive advantages over competitors and new product expansion plan to serve customer base in the future, including new business opportunity. The Company’s experienced customer service team with good relationship with customers can help expand the business to achieve sustainable growth, covering services in the following areas:
- Rental services for medical equipment to generate recurring revenue;
- Cooperation with leading hospitals to operate sleep test center project which is originated from an increasing awareness of snoring and sleep apnea among Thai people.
CEO of SMD said SMD’s business operation covers 2 major categories:
1.) Distributor business – Distributor of medical device products consisting of 6 groups, namely:
- Critical Care product is for patients in intensive care unit and emergency room. The product consists of automated CPR machine, automated external defibrillator, patient monitor with telemedicine system,
video laryngoscope, echocardiogram, ultrasound machine, and medical ceiling pendant unit.
- Respiration and Sleep Medicine is the group of medical devices for respiration and sleep disorder patient. The product consists of sleep test machine, transcutaneous CO2 monitoring machine, continuous positive airway pressure machine (CPAP) for snoring and sleep disorder patients, volume and pressure-controlled ventilation for intensive care patients, high flow oxygen therapy, chest vibrator, video laryngoscope, and air purifier with ISO 1.
- Cardiology is the group of medical devices for heart and cardiac monitoring such as 12-lead electrocardiogram, exercise stress test, Holter monitoring, energy expenditure assessment during exercise, wireless exercise stress test and cardiac rehabilitation unit, and doppler for Coronary Artery Bypass Graft (CABG).
- General Medical Device consists of surgical lamp, surgical bed, minor surgical lamp, Opthalmoscope & Otoscope set, LARYNGOSCOPE, patient bed, wheelchair, emergency trolley, and Infrared Forehead Thermometer.
- Smart Hospital is the product for modern hospitals which can facilitate hospital staff to work in faster pace, reduce paper record and report, and connect medical device information with Hospital Information System. The product consists of BMI analysis, blood pressure monitor connected with BMI analysis.
- Other Equipment is the equipment used with medical devices of the 5 groups mentioned above.
2.) Service business – Providing after sales service of maintenance for medical devices and equipment including rental service for medical devices and equipment as well as sleep test service to create long-term revenue stability.
Mr. Kumpol Chaisupaksamphan, CFO of SMD said the operating results in the past 3 years (2018 – 2020), the Company’s revenue from sales and services were at 506.03 million baht, 618.63 million baht, and 660.94 million baht, respectively, accounting for the average growth rate of 14.29% per year. The revenue is mainly from critical care product which is accounting for 40.20% with government hospitals as major customer, accounting for 71.07% due to increasing government sector’s demand for medical devices. While the net profits from 2018-2020 were reported at 30.52 million baht, 60.44 million baht, and 77.75 million baht, respectively due to the sales growth of high gross profit margin products, leading to outstanding net profit growth.
Mr. Akekajak Buahapakdee, Managing Director of Capital One Partner Co., Ltd., as financial advisor disclosed that SMD’s high growth potential is from its competitive advantages. Its long-term experience and expertise in the business have led to confidence among global leading manufacturers of medical devices and equipment, as well as its good relationships with customers, paving way for full business expansion. This is in line with investment plan of the government and private hospitals to enhance medical service capability to serve increasing numbers of patients and senior citizens of the country. Thus, the overview of medical device industry from 2021-2022 is expected to expand at an average of 6.5% per year due to higher government’s spending on public health with the goal to increase medical service efficiency to serve Thailand’s medical hub policy and medical tourism.
At present, SMD’s registered capital is at 107 million baht, consisting of 214 million shares with the par value of 0.50 per share, of which 80 million baht is issued and fully paid-up share capital and no more than 54 million shares will be prepared for the initial public offering or IPO, accounting for not exceeding 25.23% of the total issued and paid-up common shares of the Company. After the issuance and share offering, the proceeds from the capital raising are to finance sleep test center project and to invest in rental business of medical device. The rest will be used as working capital and repaid to the financial institutions. It is expected that SMD will be listed on the mai within 2021.