SaintMed Public Company Limited (mai: SMD) has received favorable feedback from the National Health Security Office (NHSO) to expand the benefits for diagnosing obstructive sleep apnea (OSA) and treating with continuous positive airway pressure (CPAP) machines, covering up to the Universal Coverage Scheme (UCS).
The company sees this as a significant market opportunity and is preparing to expand its capacity to exceed the 60 beds target this year while also negotiating with large private hospitals with a social security base of 1 million individuals.
Mr. Viroje Vasusuttikulkant, CEO of SMD, stated via ‘Kaohoon’ that regarding an approval of the proposal to extend the benefits of OSA/CPAP covering benefits in the Universal Coverage Scheme (UCS) from the board meeting of the NHSO on March 20, 2024, the matter gave positive sentiment to the company, as people, either as government or state enterprise officers, or with the social security scheme, or UCS, could access the OSA/CPAP benefits, while also giving a positive impact on SMD’s business, not only in terms of medical device sales but also in expanding the number of service beds.
Regarding the overall business operations in 2024, SMD plans to expand its service beds to 60 beds per night and further increase to 180 beds per night by 2026 through partnerships with both public and private hospitals in Bangkok and its outskirts. With confidence in achieving the target bed expansion and supported by the approval from the NHSO to extend benefits for OSA/CPAP treatment, the company may consider significantly raising its service bed expansion goals.
Furthermore, SMD is in the process of expanding its business in collaboration with large private hospitals with a social security base of over 1 million individuals.
As for Q1 and Q2 of 2024, SMD anticipates stable performance compared to the previous year, as the annual budget has not been announced yet. The company foresees accelerated growth from 3Q/24 onwards, reaching its peak in 2025. This surge is attributed to increased government spending stimulation in related industries and the implementation of the annual budget, alongside SMD’s clear sales performance in regular and backlog sales.
For FY2024, the company is confident in achieving a total revenue of 1.8 billion baht, a significant increase from the previous year of 833.83 million baht. This revenue is expected to come from the medical device distribution business, totaling 1 billion baht, and two subsidiary companies, namely Servehealth Company Limited (SMDX) and SMDI Company Limited (SMDI), with estimated revenues of 600 million baht and 200 million baht, respectively.
Looking ahead to 2025, the company remains optimistic about further revenue growth, targeting a total of 2.8 billion baht. This growth projection aligns with the steady expansion of its medical device distribution business (1,000 million baht), SMDX (900 million baht), and SMDI (900 million baht).
