On the 7th, Kim Chung-hyun, an analyst at MIRAE ASSET SECURITIES, stated in a company analysis report on SEERS that “price isn’t everything,” adding that “dumping sales is a strategy with clear long-term limitations.”
Analyst Kim explained, “Since inpatient monitoring solutions are used 24 hours a day on a ward-by-ward basis, it is difficult for utilization rates to increase after adoption if operational inefficiencies arise or errors occur frequently.” He added, “C-THINK is recognized as a solution with excellent ROI from the hospital’s perspective, so the larger the number of hospital beds involved in a bid, the more important non-price factors become.” This implies that the market structure makes it difficult to secure market share through price competition alone.
He noted, “Unlike most competitors, who focus primarily on improving diagnostic yield compared to Holter monitors, SEERS is the first in the industry to secure prospective clinical trial data proving equivalence to standard equipment for clinical phenomena,” adding, “We are building up the most extensive operational know-how and establishing the optimal organizational structure to implement it.”
Researcher Kim also assessed that “the upgrade test to evolve into a ‘Large Cap’ company has begun.” His analysis is that the current volatility is growing pains necessary for the leap to Large Cap status.
Researcher Kim remarked, “The current concerns represent the challenges SEERS must address to become a large-cap company,” adding, “First and foremost, the upcoming second-quarter earnings announcement this year—as well as quarterly performance in the domestic market—will become increasingly critical.”
He continued, “The company must demonstrate its capabilities that set it apart from competitors in the domestic market, as well as prove its performance in overseas markets,” adding, “In that regard, tangible results in overseas markets such as the Middle East and the United States will be more important than ever.”
In fact, based on the track record it has established in the domestic market, SEERS is now actively expanding into the United Arab Emirates (UAE) and U.S. markets; if tangible results emerge from these efforts, a revaluation of the company’s market value is expected.
A SEERS official stated, “AI-based inpatient monitoring is a platform business that includes hospital IoMT infrastructure, such as fixed wireless gateways and EMR integration, so it is difficult to compare it based solely on price.” The official added, “To date, we have never discussed or been asked by sales partners to lower our supply prices based on competitors’ prices, and we have no plans to lower our supply prices due to price competition in the future.”
