Expected Filing in Early Next Month… IPO Preparation Accelerates After Technology Evaluation

Mezoo, a leader in Korea’s ambulatory real-time patient monitoring (aRPM) market, is set to take the first step toward a KOSDAQ listing. Industry sources anticipate a valuation in the KRW 200 billion range.

According to industry officials on the 19th, Mezoo has finalized plans to file for a preliminary KOSDAQ listing review in early next month after consultations with its IPO underwriter, Shinhan Investment Corp.. The company is currently completing listing preparations, including conversion to electronic securities. In July, Mezoo received technology evaluation grades of A and BBB, qualifying it for listing under the technology special track.

Following the evaluation, Mezoo swiftly completed equity restructuring. At the end of July, all redeemable convertible preferred shares (RCPS) and convertible preferred shares (CPS) held by investors were converted into common shares. In the following month, the company conducted a bonus issue allocating 19 shares per existing share, thereby increasing the total number of shares outstanding.

Mezoo is a digital healthcare company developing wearable ECG patches and a platform capable of real-time monitoring of multiple patients. It was founded in 2019 by CEO Jung-hwan Park together with PhD graduates from the Department of Biomedical Engineering at Yonsei University.

The company has drawn industry attention by implementing aRPM through its proprietary real-time, multi-biosignal wireless transmission technology. This technology measures and analyzes a range of biosignals—including ECG, respiration, body temperature, and oxygen saturation—in real time from a compact patch approximately half the size of a credit card, and transmits the data wirelessly.

Currently, Mezoo’s HiCardi series has been adopted by 25 out of 47 tertiary hospitals in Korea, accounting for a 53 percent share, and is in use at more than 600 medical institutions nationwide. In September last year, the company obtained clearance from the U.S. Food and Drug Administration (FDA). Mezoo is the first Korean company to receive FDA clearance for a system that includes real-time analysis algorithms performed directly on a wearable device.