MEZOO CEO Park Jung-hwan: "The Era of Remote Patient Monitoring is Blooming; We are Expanding the Market Pie"
"I am confident that the remote patient monitoring (RPM) market will enter full bloom starting this year. Numerous tertiary general hospitals are now placing full-scale orders for RPM systems. I believe the market has truly opened up as Seers Technology and Daewoong Pharmaceutical paved the way by persuading hospitals with the Revenue Sharing (RS) model. Our plan is to grow the domestic market 'pie' while simultaneously targeting the global stage to become a world-class medical device company."
Park Jung-hwan, CEO of MEZOO, which is on the verge of listing on the KOSDAQ market, shared this ambitious blueprint in a recent interview with thebell. His vision is to build a global MedTech giant comparable to Medtronic by leveraging MEZOO’s technological prowess. He also expressed a heartfelt desire to help prevent regional decline by showing that a "local company" based in Wonju, Gangwon Province, can grow into a global enterprise.
◇ Expanding the Market with Seers... Confident in Exceeding Revenue Targets
MEZOO, an ambulatory Remote Patient Monitoring (aRPM) specialist, is nearing a successful entry into the KOSDAQ market.
The company successfully completed its demand forecasting, receiving an enthusiastic response from both domestic and international institutional investors.
Following the confirmation of the offering price at the upper end of the target band, the public subscription also saw high engagement.
Notably, 76.5% of the participating institutions committed to a mandatory lock-up period, signaling strong confidence in the company's post-listing growth.
Meeting at MEZOO’s headquarters in Wonju, CEO Park began by saying, "I didn't realize an IPO would be this challenging." During the process, MEZOO met with approximately 200 institutional investors to communicate its vision, including IR sessions with global investors in Hong Kong.
Through this, he witnessed firsthand the intense interest in the RPM industry, which translated into a highly successful public offering.
"While many tech-based companies fail despite having great technology, we didn't face such skepticism because Seers Technology, which listed earlier, had already validated the market to some extent," Park explained. "Instead, investors showed great anticipation for MEZOO’s differentiated technical capabilities."
Park anticipates that the company will exceed the revenue targets set during the listing process. In its registration statement, MEZOO projected a 2026 revenue of 15.4 billion KRW for valuation purposes. However, internally, the company expects to surpass this figure.
"In the registration statement, we applied conservative standards for matters that weren't yet finalized," Park said. "Internally, we have set a goal to achieve even higher revenue."
It is understood that the internal target is set at approximately 19 billion KRW for this year—an explosive growth of more than 2.5 times last year's revenue. This optimism stems from the fact that the domestic RPM market is now entering a period of rapid expansion.
Indeed, tertiary general hospitals are increasingly adopting RPM systems. Hospitals that previously operated these systems on a trial basis have begun placing official orders, and many others are reportedly preparing to follow suit. "The tertiary hospitals that have been conducting Proof of Concept (POC) projects are finally opening up in earnest this year," Park noted.
Regarding the competitive landscape, Park explained that Seers Technology is not a rival, but rather a partner in growing the overall market pie.
"While a global giant like Philips has primarily supplied equipment focused on cardiology, MEZOO and Seers are opening the RPM market together and expanding it across all hospital wards," he emphasized. "Korean MedTech startups are creating a new market, even when up against global titans."
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