SMD Rise Public Company Limited renamed from Saint Med to reflect its vision of transforming from a medical distributor into a comprehensive Healthcare Ecosystem Provider, backed by over 25 years of industry experience and expertise.
| 3M25 | 3M24 | 2024 | 2023 |
|---|
| Revenues | 153.27 | 141.18 | 799.97 | 833.83 |
| Expenses | 175.72 | 151.57 | 736.16 | 737.33 |
| Net Profit (Loss) | -26.47 | -10.48 | 41.68 | 79.24 |
| Assets | 1,227.06 | 1,022.11 | 1,290.97 | 1,079.91 |
| Liabilities | 493.73 | 179.31 | 531.17 | 179.84 |
| Shareholders' Equity | 733.33 | 842.80 | 759.80 | 900.06 |
| Operating | -54.84 | -50.83 | -30.11 | 20.88 |
| Investing | -24.27 | -6.65 | -74.51 | -15.73 |
| Financing | 69.18 | -48.81 | 10.32 | -213.51 |
| EPS (Baht) | -0.13 | -0.05 | 0.20 | 0.35 |
| GP Margin (%) | 33.75 | 31.38 | 37.87 | 35.91 |
| NP Margin (%) | -17.27 | -7.42 | 5.21 | 9.50 |
| D/E Ratio (x) | 0.67 | 0.21 | 0.70 | 0.20 |
| ROE (%) | 3.26 | 6.47 | 5.02 | 8.22 |
| ROA (%) | 4.87 | 6.80 | 5.65 | 8.46 |
SMD Rise is transforming from a medical device distributor into a Specialized Healthcare Service Provider by restructuring into four focused subsidiaries to drive agility and sustainable growth across the medical value chain.
1. SMD Genesis Co., Ltd. Focused on Critical Care through equipment distribution, rental services, and Revenue Sharing models with partner hospitals—aimed at improving quality and efficiency in critical care delivery.
2. SMD Sappaya Co., Ltd. Develops holistic and proactive healthcare services based on the 10S framework: Sleep, Sex, Stress, Metabolic Syndrome, Office Syndrome, Slim, Skin, Soul & Spirit, Smart Exercise (body, brain, heart), and Super Sappaya. Operates through Medical Services, Revenue Sharing, Cloud Healthcare, and Device as a Service (DaaS) models.
3. SMDI Co., Ltd. Manages Advanced Imaging & Radiation Therapy solutions—CT, MRI, Nuclear Medicine, AI Imaging Platforms, LINAC, and Proton Therapy Centers—and serves as the core unit for developing Cancer Treatment Centers via direct sales and Revenue Sharing models.
4. SMD Connex Co., Ltd. Manages cardiovascular products and Clinical Information Systems (CIS), focusing on integrating medical device data into digital platforms. Operates through sales, rental, and subscription models.
The company provides advanced medical equipment, first aid training, and AI-driven innovations to enhance diagnosis and support healthcare professionals.
Aging Society, Preventive Care, and the Healthy Longevity trend are driving demand for CPAP machines, sleep testing, and personal health devices—creating opportunities for integrated healthcare solutions tailored to health-conscious seniors.
The government's Medical Hub policy is boosting demand for advanced equipment in complex care, opening opportunities to expand high-value medical equipment leasing to hospitals.
The Ministry of Public Health promoting the establishment of Wellness Centers to meet rising demand for preventive and holistic care—from screening to rehabilitation.
The Comptroller General's Department, NHSO, and the Social Security Office CPAP coverage expansion by key agencies is enhancing access and driving long-term market growth.
SMD Rise reported a Q1/2025 net loss of 26.47 MB, an increase of 15.99 MB or 152.58% YoY, primarily due to strategic, long-term growth investments. These early-stage initiatives do not indicate core business weakness. Management remains confident that returns will begin to materialize in the coming quarters, supporting a positive outlook for the rest of 2025.
2025: Sleep Lab Centers, including Siriraj Golden Jubilee Medical Center, THAM Sleep Center, and SMDX KIN-ORIGIN Sleep Innovation Unit, have received accreditation from the AACI (American Accreditation Commission International) as the first group of centers in the Asia-Pacific region.
2025: Acquired 100% of shares in SMD Connex Co., Ltd.
2025: Changed the name from "Saint Med Public Company Limited" to "SMD Rise Public Company Limited".
2024: Changed the stock symbol from "SMD" to "SMD100".
2024: Changed the name of "SMDX Co., Ltd." to "SMD Sappaya Co., Ltd."
2024: Acquired 100% of shares in in SMDI Co., Ltd. and changed the name of Serve Health Co., Ltd. to SMDX Co., Ltd.
2023: Acquired 100% of shares in Serve Health Co., Ltd.
2022: Increased registered capital to 112.35 MB for dividend
payment.
2021: Increased registered capital by 107 MB through an IPO of 54
million shares and was listed on the Market for Alternative
Investment (mai) on June 17.
2020: SMD signed a collaboration agreement for the Sleep Lab project with Kanchanabhisek Medical Center, Faculty of Medicine Siriraj Hospital, Mahidol University, and transformed into a public company.
Exchange rate risk: The company manages currency risk by using non-speculative forward contracts, avoiding foreign currency borrowing, and monitoring global economic conditions.
Risk of losing dealership rights: To minimize reliance on any single supplier, the company represents over 30 brands and initiates early negotiations to allow time for securing alternative partnerships if needed.
- THAM Sleep Center has been accredited by AACI for International Healthcare Standards
- 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
| as of 31/03/25 | SMD100 | CONSUMP | mai |
|---|---|---|---|
| P/E (X) | 20.03 | 23.57 | 37.47 |
| P/BV (X) | 1.10 | 0.98 | 1.22 |
| Dividend yield (%) | 18.66 | 3.40 | 3.80 |
| 31/03/25 | 30/12/24 | 28/12/23 | |
|---|---|---|---|
| Market Cap (MB) | 903.23 | 1,033.55 | 1,617.72 |
| Price (B/Share) | 4.02 | 4.60 | 7.20 |
| P/E (X) | 20.03 | 17.61 | 28.85 |
| P/BV (X) | 1.10 | 1.13 | 1.61 |
