Kim Ki-jin, CEO, "This year's full-scale public offering ... It will become a company recognized both at home and abroad"
[Reporter Minji Kim, Paxnet News] 3D Medivision is a company that provides educational 3D video contents in the veterinary field. We have been running this business since 2019. This year, the company plans to expand its market by entering overseas markets such as the United States, Japan, and China. At the same time, the goal is to become a leading company in the field of veterinary education both at home and abroad by promoting entry into the KOSDAQ market.
As can be seen from its mission statement, 3D Medivision's core technology is '3D image construction'. Based on this technology, it started a business to develop and supply 3D imaging medical devices in 2011. CEO Ki-jin Kim (pictured) explained, "The initial business model was to produce 3D educational videos for surgeons."
In general, surgery is performed in a situation where strong light is poured in a narrow space. It is very difficult for the surgeon to experience the surgeon view right next to the professor who performs the surgery. In this situation, the 3D medical image provided by 3DMedivision clearly showed the anatomical structure and was effective in enhancing the educational effect.
However, starting the business in earnest was not easy. This is because the process of filming surgery videos and producing them for educational purposes was entangled with privacy regulations. As the business focused on 'humanity' became difficult, 3D Medivision turned its eyes to a new field. The answer was found in the field of 'veterinary medicine', where regulation is relatively free and the market is growing explosively.
There are several reasons why CEO Kim is confident of expanding the veterinary market. First of all, the veterinary industry itself was formed in earnest not long ago, so it was judged that there is a high potential for future growth. We also paid attention to the fact that the Korean veterinary university course was changed from 4 years to 6 years. It is expected that the demand for video content from 3D Medivision will increase as the number of courses and subjects increases. It was also influenced by the fact that there was no significant difference in the veterinary education courses around the world, which made it possible to quickly enter the overseas market.
Currently, 6 out of 10 veterinary universities in Korea are using video contents for veterinary education created by 3DMedivision. The students' responses are also very positive, as you can feel the vitality of practicing with a real cadaver and understand the anatomical structure clearly.
CEO Kim said, "In terms of animal ethics, too, in a situation where it is difficult for veterinary students to practice directly with animals, as face-to-face classes became impossible due to 'COVID-19', the demand for our content has surged. We will be able to provide videos filmed and produced by 3D Medivision to all veterinary universities,” he said.
Private veterinarians are also using 3DMedivision's video content. 3DMedivision introduced 'Betterflix', a 3D imaging platform for veterinary surgery and medica ideo content in the veterinary field.
Currently, we are providing video content centered on popular companion animals such as dogs and cats, but the business expansion potential is limitless. It can produce images for industrial animals and promote an advertisement business that introduces new medical devices to the images.
3D MediVision has been recognized for its 3D image construction technology, and in 2016, it attracted Series A investment from venture capitals such as BNH Investment, KTB Network, KB Investment, and Daily Partners. Last year, it attracted series B investment from existing investors and HB Investment. If strategic investors (SI) including KOSDAQ listed company Notus are included, the accumulated investment amount is about 10 billion won.
3D Medivision, which has attracted investment based on its technology, is planning to enter the KOSDAQ market this year. To this end, last year, Daishin Securities was selected as the representative organizer. CEO Kim said, "I think that listing on the KOSDAQ has the meaning of being a recognized company in Korea. As soon as the current contract with foreign countries is completed, the full-fledged public offering process will begin.
The funds raised through the initial public offering (IPO) will be used to establish retraining (re-education) centers in Korea and other parts of the world. Training is provided to veterinarians by providing surgical space and facilities, and 3D Medivision can build a business model that provides content from the platform service. CEO Kim Ki-jin said, "When our technology meets the veterinary industry, the business that can be carried out is limitless."