EzCareTech expressed its aspiration to become a global health networking leader on the occasion of its initial public offering.
|EzCareTech CEO Wee Won-ryang unveils the company’s goal in expanding its platform in the global market, during a news conference held at a restaurant in Seoul Wednesday.|
“Based on our accumulated capabilities in Korea, we will aggressively enter overseas markets such as the U.S. and the Middle East,” EzCareTech CEO Wee Won-ryang said at a news conference Wednesday.
EzCareTech has a high market share in Korea, thanks to its unique technology. Since the establishment of its electronic medical record (EMR) system in Seoul National University Bundang Hospital in 2003, the company has installed it in other major hospitals, including Seoul National University Hospital, Ewha Womans University Medical Center, Gachon University Gil Hospital and Keimyung University Dongsan Medical Center.
The company has also signed supply contracts with hospitals in the United States, Saudi Arabia and the United Arab Emirates.
“Based on our experiences in Saudi Arabia and the UAE, the company will expand its market share across the Middle East by targeting public hospitals through signing contracts with their defense ministries,” the company said. “To this end, the company will establish a corporation in Dubai within the year.”
EzCareTech also plans to increase its presence in the U.S. The company signed a 24-billion won ($20 million) contract with Aurora Behavioral Healthcare Group in August 2017 to build Best Care 2.0B, the hospital’s information system, in the group’s 14 hospitals. The company will use the contract as a foothold and expand its business to other general hospitals in the U.S.
During the news conference, the company also announced its plans to enter the big data market.
“Although algorithm development is important in big data and AI business, we believe it is more important to provide actual reliable data,” EzCareTech Vice President Hwang Hee said. “The company expects that it can provide such data using its platform, adding that EzCareTech plans to become the provider of such data.
EzCareTech CEO Wee also said, “With the IPO listing, we will improve systems at domestic small- and medium-sized hospitals and actively enter the global market. EzCareTech will become a company that constantly strives to improve the quality of local medical care by raising our technological competitiveness and competing with global companies.”