SMD100 is a distributor of medical devices imported from leading global manufacturers, serving both public and private hospitals, as well as the general public. The company operates in 2 main sectors:
1. Medical Device Sales
(1) Critical Care Medical Devices (2) Sleep Medical Devices (3) Cardiology Medical Devices (4) General Medical Devices (5) Smart Hospital Medical Devices and (6) Wellness Medical Devices
2. Services
(1) Maintenance Service (2) Rental Service and (3) Sleep Lab Service
| 2024 | 2023 | 2022 | 2021 |
|---|
| Revenues | 799.97 | 833.83 | 2,013.79 | 1,622.72 |
| Expenses | 736.16 | 737.33 | 1,635.76 | 1,207.35 |
| Net Profit (Loss) | 41.68 | 79.24 | 296.66 | 319.84 |
| Assets | 1,290.97 | 1,079.91 | 1,210.57 | 1,377.12 |
| Liabilities | 531.17 | 179.84 | 182.81 | 479.27 |
| Shareholders' Equity | 759.80 | 900.06 | 1,027.76 | 897.86 |
| Operating | -30.11 | 20.88 | 466.09 | 143.26 |
| Investing | -74.51 | -15.73 | -6.21 | -36.43 |
| Financing | 10.32 | -213.51 | -396.83 | 352.01 |
| EPS (Baht) | 0.20 | 0.35 | 1.32 | 1.69 |
| GP Margin (%) | 37.87 | 35.91 | 29.45 | 38.93 |
| NP Margin (%) | 5.21 | 9.50 | 14.73 | 19.71 |
| D/E Ratio (x) | 0.70 | 0.20 | 0.18 | 0.53 |
| ROE (%) | 5.02 | 8.22 | 30.81 | 57.02 |
| ROA (%) | 5.65 | 8.46 | 28.97 | 40.28 |
- Expand into Wellness, Spa, and Home Use Healthcare: through a rental and revenue-sharing model, the company focuses on installing Mild Hyperbaric Oxygen Chambers and high-efficiency medical-grade air filtration systems to mitigate air pollution and enhance air quality.
- Internationally Certified Sleep Test Centers: the company operates AACI-accredited sleep testing centers at SMDX Kin-Origin Sleep Lab, Siriraj Golden Jubilee Sleep Center and Thammasat University Medical Center. This expansion drives continuous revenue growth from sleep testing and CPAP sales, further supported by the Social Security Act, which has covered CPAP treatment since January 1, 2024, and reimbursement support from the National Health Security Office (NHSO) for sleep testing and CPAP devices.
- Investment in Proton Therapy Technology: SMDI Co., Ltd., in partnership with Thammasat University Hospital, is advancing proton therapy, a high-precision cancer treatment that reduces side effects, especially for critical tumors and pediatric patients. The partnership aims to enhance Thailand's medical capabilities, elevate treatment standards to an international level, and improve the quality of life for the public.
The company delivers high-quality medical equipment to enhance Thailand’s healthcare system. It established an Emergency Medical Center for first aid and CPR training while advancing medical innovation to improve treatment efficiency. A key development is an AI-powered Lung Cancer detection system using CT scans, enabling faster, more accurate diagnosis.
Factors that affected company performance.
- Aging Society: Thailand’s aging population is driving increased demand for sleep testing services, CPAP devices, and medical devices for treating NCDs.
- Medical Tourism & Medicine Hub: The expansion of medical tourism boosts demand for Wellness & Preventive Healthcare services, along with hospital and bed capacity expansion.
- Preventive Care Trends: A rising focus on preventive healthcare is fueling market demand for diagnostic equipment, including influenza A/B test kits.
In 2024, SMD rise reported a net profit of THB 41.68 million, a decrease of THB 37.56 million, or 47.40% YoY. The decline in net profit in the past year resulted from strategic investments for long-term growth, rather than a sign of business downturn. The subsidiary companies are still in the investment phase, meaning the consolidated financial statements have yet to fully reflect the company's true potential.
2024: Renamed from "Saintmed Public Company Limited" to "SMD Rise Public Company Limited", with a new stock symbol "SMD100"
2024: Renamed "SMDX Co., Ltd." to "SMD Sappaya Co., Ltd."
2024: Invested in SMDi Co., Ltd. with 100% shareholding and renamed "ServeHealth Co., Ltd." to "SMDX Co., Ltd."
2023: Acquired 100% stake in ServeHealth Co., Ltd.
2022: Increased registered capital to 112.35 MB for stock dividend
payment.
2021: Increased registered capital to THB 107 million, issuing 54 million new shares. Conducted an IPO and listed on the Market for Alternative Investment (mai) on June 17, 2021
2020: Collaborated with Golden Jubilee Medical Center to provide
sleep examination service. And registered as a public company.
- The risk from exchange rates :The company imports medical equipment from abroad and manages currency risk through Forward Contracts, with no speculation policy and by avoiding foreign currency loans while closely monitoring market conditions.
- The risk of not extending the right to be a distributor of main products : The company mitigates this risk by representing over 30 brands, reducing dependence on any single manufacturer. It also has a proactive negotiation strategy to secure sufficient time for sourcing new suppliers in case of non-renewal of contracts.
- SMDX KIN ORIGIN SLEEP TEST UNIT has been accredited by AACI for International Healthcare Standards
- Siriraj Golden Jubilee Sleep Center has been accredited by AACI for International Healthcare Standards
- Cardiology Champion from Baxter
- Market Breakthrough Award 2023 from Mindray
- Certificate of ESG Emerging Company for the year 2022
- 2021 Gold Service Channel
- Mindray 2021 Best Performance Award
- Golden Cooperator Award 2021
- 2020 Gold Service Channel from Mindray
- Best Performance Award 2020 from Mindray
| as of 30/12/24 | SMD100 | CONSUMP | mai |
|---|---|---|---|
| P/E (X) | 17.61 | 31.82 | 41.84 |
| P/BV (X) | 1.13 | 1.30 | 1.55 |
| Dividend yield (%) | 6.78 | 1.58 | 2.47 |
| 30/12/24 | 28/12/23 | 30/12/22 | |
|---|---|---|---|
| Market Cap (MB) | 1,033.55 | 1,617.72 | 1,921.05 |
| Price (B/Share) | 4.60 | 7.20 | 8.55 |
| P/E (X) | 17.61 | 28.85 | 5.54 |
| P/BV (X) | 1.13 | 1.61 | 1.88 |
