Phiphat Phisanuwongrak, Chief Financial Officer of Medize Group Public Company Limited (SET: MEDEZE), presented the company’s business overview during the Opportunity Day event hosted by the Stock Exchange of Thailand (SET) on March 13, 2025.
He announced that for the year 2024, MEDEZE achieved a total revenue of THB 874.33 million, representing a 23.60% increase from the previous year’s THB 707.37 million.
The net profit was recorded at THB 338.74 million, showing a 41.39% rise from the prior year’s THB 239.57 million. This growth was fueled by the increasing attention towards the company’s stem cell business, both domestically and internationally.
Phiphat elaborated on the business outlook, noting that the first quarter is traditionally a low season for the company, due to a lower birth rate compared to other times of the year.
Moreover, the previous year being a “Year of the Dragon” led many families to speed up childbearing towards the year’s end, causing the first quarter’s figures to dip slightly.
However, despite potential economic impacts, the long-term trend remains positive. As infertility rates rise, there is heightened parental focus on children’s health preparedness, particularly through preserving newborn stem cells, which is a prime time for such storage.
Additionally, the company believes that new services such as hair follicle cell storage and immunity testing will bolster business growth. Revenue growth for 1Q2025 is expected to remain at 20-30%.
Phiphat highlighted the opportunity in the hair follicle stem cell market, which is substantial with around nine million people nationwide experiencing hair-related problems. The market is valued between THB 2-4 billion annually.
Should MEDEZE capture just 2% of the market share, it could achieve annual sales of 40-50 million baht, an ambitious target. Should demand increase, and hair follicle stem cells become a main alternative to traditional hair transplants, it could become a new S-Curve for the company.
Furthermore, on February 19, 2025, the Ministry of Public Health announced policies to promote Advanced Therapy Medicinal Products (ATMP), encompassing stem cells, natural killer cells (NK cells), hair follicle cells, gene therapy, and biotechnology related to tissues.
All these products will be classified as medicines under the Food and Drug Administration (FDA) oversight. A sandbox has also been established to accelerate technology development, aligning with the government’s Medical Hub initiative to drive the economy.
Additionally, Suphakan Kijgoson, Chief Financial Officer of MEDEZE, noted that the company raised THB 2,412 million from its initial public offering (IPO) on October 15, 2024.
The company allocated funds for key projects, including investing THB 100 million in its subsidiary, Medize Hair Renaissance Co., Ltd., founded on January 2, 2025, and THB 400 million in cell cultivation robot technology to support business growth.
Following these investments, the company retained THB 1,912 million, which was reduced by THB 71 million for underwriter fees, leaving THB 1,841 million for business operations and future project expansions.
