Partnered with Dong-A ST… IPO Price Band Set at KRW 16,700–21,600, Expected Market Cap of KRW 162.3–209.9 Billion… Projected 2026 Revenue of KRW 15.4 Billion, Described as a “Conservative Forecast.”
Digital healthcare company Mezoo held a press conference in Yeouido, Seoul on the 9th ahead of its KOSDAQ listing through a technology special listing, where it presented its future vision and growth strategy.
Mezoo is scheduled to list on the KOSDAQ on the 26th and plans to offer 1,345,000 shares through the IPO. The indicative price band has been set at KRW 16,700 to KRW 21,600 per share, with the expected offering size estimated at approximately KRW 22.5–29.1 billion. Based on this range, the company’s expected market capitalization is projected to be around KRW 162.3–209.9 billion. Demand forecasting for institutional investors will be conducted from the 5th to the 11th, followed by the public subscription on the 16th and 17th, with the listing targeted for the 26th. Shinhan Investment & Securities is serving as the lead underwriter.
Founded in 2007 by biomedical engineering PhDs from Yonsei University, including CEO Park Jung-hwan, Mezoo is a healthcare company specializing in the development of ambulatory Remote Patient Monitoring (aRPM) technology. In 2022, the company formed a strategic partnership with Dong-A ST for hospital distribution and has since deployed its aRPM platform ‘HiCardi’ to 25 tertiary hospitals in Korea (approximately 53%) and more than 700 hospitals and clinics.
HiCardi is an integrated monitoring system composed of three components: the smart patch that measures biosignals in real time, Smart View that provides biosignal data through a mobile monitoring service, and Live Studio that manages biosignal data through a cloud-based platform. The device weighs about 18 grams and enables continuous monitoring for up to 72 hours.
In particular, the HiCardi smart patch incorporates on-device machine learning technology, enabling real-time data analysis and diagnostic functions directly on the device. It also includes defibrillation protection technology that allows defibrillation procedures to be performed without removing the device. In addition, the company is developing digital biomarkers based on deep learning–driven biosignal analysis to detect early signs of disease and assess health conditions.
Mezoo currently sells five smart patch–based products, including ‘HiCardi+ (H100)’, ‘M300’, and veterinary devices, while generating revenue through subscription fees for the Live Studio platform.
The company also unveiled its mid- to long-term strategies, which include the launch of the multi-parameter medical device ‘M350’, the development of the ‘Homespital’ service, and the supply of intelligent biomedical chipset technology.
Mezoo explained that the digital healthcare market, which can help address the shortage of medical personnel caused by the growing elderly population, is continuing to expand. In particular, the remote patient monitoring market has begun to grow rapidly since last year. Currently, the combined number of hospital beds secured by Seers Technology and Mezoo in Korea is approximately 18,000 beds, accounting for about 3% of the country’s total of 600,000 beds.
