[Start UP Story] Kim Ki-jin, CEO of 3D Medivision, plans to introduce veterinary content to 9 countries
“We are aiming for the Netflix of veterinary medicine. We plan to show companion animal treatment and surgery video content not only in Korea, but also in nine countries including the United States, China, Japan, and France.”
Kim Ki-jin (pictured), CEO of 3D Medivision, recently met with Money Today and said, “The number of paid members of ‘VeterFlix’, a surgical education platform for veterinarians launched in April of last year, exceeded 1,000 and broke the break-even point (BEP). I did,” he said.
Betterflix supplies more than 80 video contents in six fields including veterinary surgery, veterinary dentistry, clinical anatomy, veterinary anesthesia, veterinary ophthalmology, and veterinary orthopedic neurosurgery. For example, if you take veterinary emergency intensive care medicine, you will be taught how to do blood transfusions for dogs and cats, and CPR for companion animals. You can also find out about neutering surgery and anterior cruciate ligament approach, which are in high demand related to pet surgery.
A blue ocean caught by a shift in idea
Founded in 2011, 3DMedivision started out as an educational equipment development company for surgeons. A 3D (dimensional) camera was developed to effectively show surgical images, and in 2017, online surgery education contents were produced and presented.
While producing human surgery contents, CEO Kim realized that there was a greater demand for the veterinary industry. Animals are needed for clinical practice at the veterinary school, but as voices for animal protection have risen, it has become difficult to obtain clinical animals. Some universities use animal models for educational practice.
In particular, as the era of 10 million companions opens, the demand for surgery for companion animals has greatly increased, but there is a shortage of veterinarians with a lot of experience. Unlike human medicine, veterinary medicine does not have a specialized course. CEO Kim said, "The pet market is growing, but there is a lack of professional treatment and surgery education.
Turned to budget surplus after 1 year of service, 150 people use it per day.
3D Medivision provides B2B services that supply set-top box ‘Vet TV’ with contents to veterinary colleges and B2C services for veterinarians at veterinary hospitals.
Vet TV is supplied to Seoul National University and Chungbuk National University Veterinary School. With the Seoul National University Veterinary School, he co-produced a variety of contents including 50 hours of anatomy video of a large dog for 4 months. Small dog anatomy contents have also been produced since last June. As online classes are held due to the COVID-19 crisis, more and more universities are seeking to collaborate with 3D MediVision. When 3D Medivision's 3D glasses are mounted on a smartphone and viewed, you can feel the realism of seeing the affected area.
CEO Kim said, “In addition to small dogs, we plan to produce anatomical contents of various animals such as cats and snakes.
Veterflix, a B2C model, succeeded in turning to black within one year of launch. The number of members increased from 100 in April last year to 1,000 as of August. 150 people a day watch for a fee.
CEO Kim said, “The person who took the most courses in one year saw 10 million won worth, and the retake rate is 4-5%.” and “The average paid payment per person is 700,000 won, so if additional members are secured, the sales growth will be steep,” he said.
A series of love calls from overseas... Launched service in Japan within this year
3D Medivision plans to expand the current 6 subjects and 80 contents to 10 subjects and 300 contents. By 2023, exports to the United States, Japan, China, France, the United Kingdom, Germany, Spain, and Portugal are also promoted.
The US received an offer from Western University's College of Veterinary Medicine at the Western Veterinary Conference (WVC), the world's largest veterinary education exhibition, held in Las Vegas in February. The U.S. plans to establish a local branch, and China plans to proceed with a joint project with a local company. In Japan, the service is being launched in December this year through an agency contract.
CEO Kim said, “Western University has been proposing to expand into Latin America and Europe by creating an accreditation course related to the veterinarian’s professional course. do,” he said.
“In China, the companion animal market is growing rapidly due to the increase in single-person households and aging, and the number of franchise veterinary hospitals is also increasing, which has high growth potential,” he said.
Promotion of listing on KOSDAQ next year... Pet Medical Edutech No.1
3D Medivision signed an IPO (Initial Public Offering) lead lead contract with Daishin Securities on the 6th. We aim to become Korea’s first companion animal-related medical Edutech listed company.
CEO Kim said, "By 2023, there will be about 200,000 veterinarians in 9 major countries, and we have a goal of securing 10,000 members, 5% of them." We will provide stable income.”
"The demand for non-face-to-face content will further increase due to COVID-19," he added.
Sources : MoneyToday(https://news.mt.co.kr/mtview.php?no=2020082615222268677)
[Seoul Economic TV=Reporter Kim Hye-young] The world's first "Medical Edu-Tech" company, 3D Medical Vision (CEO Kim Ki-jin), will throw their hat into the ring for the KOSDAQ market.
3D Medivision announced on the 6th that it will select Daishin Securities as the organizer of the IPO and start preparing for listing on the KOSDAQ in earnest with the goal of the second half of next year. Daishin Securities is also positively evaluating the outlook for the medical edutech business by considering direct equity investment of 3D Medivision.
3D Medivision is the first company in the medical field to succeed in commercialization using a 3D imaging system. Three Medivision, which aims to become the "first listed medical edutech company," is strengthening its market competitiveness along with expanding its entry into the domestic and foreign edutech market by presenting a "new normal" for online education in the post-corona era.
Since its establishment in 2011, 3D MediVision has been focusing on establishing a new medical education paradigm, such as developing a 3D medical imaging system that simultaneously satisfies the smart education environment and resolving problems such as regional bias and high education costs in the medical education market. In April last year, it opened the world's first 3D medical video online platform "veterflix" in the field of "suite" surgery and is providing 3D medical education services. Veterflix is receiving favorable reviews from clinical veterinarians and veterinary-related institutions as it can experience actual surgery field education in a non-face-to-face manner, and the number of content users is rapidly expanding.
Three Medivision is currently expanding its users to 7,000 veterinarians in Korea based on 90 surgical video contents. It plans to expand its content to more than 300 by the end of this year and accelerate its entry into overseas markets.
In addition, due to the expansion of demand for untact education around the world due to COVID-19, 3D Media is expected to see overseas market performance as discussions on collaboration with related organizations such as the United States, China, and Japan are currently nearing the end. The company explained that the number of veterinarians in major overseas countries such as the U.S., China, and Japan is about 200,000, about 30 times that of South Korea, which is expected to improve external growth and profitability through Veterflix's entry into overseas markets.
Kim Ki-jin, CEO of 3DMedivision, said, “The era of ‘untact’, which has already started with the 4th industrial revolution, is explodingly accelerating due to COVID-19 in 2020. “Even if only 5% of the 200,000 veterinarians in major foreign countries are secured, the market will be worth 6.6 trillion won per year. We plan to grow into a leading company that leads.”
He continued, “We will select Daishin Securities, which has a track record of successfully leading IPO deals in various industries and cases, as the listing organizer and prepare for the IPO in earnest.” We will do our best to enter the stock market,” he added.
On the other hand, the pet family and pet industry are rapidly growing due to the increase in the number of single-person households and companion animals in domestic as well as overseas markets. According to the ‘2020 Pet Care Market Prospect’ report released recently by Euromonitor International, a global market research company, the global pet care market will grow from $ 131.3 billion in 2019 to $ 139.8 billion in 2020 (166 trillion won). 401.6 billion won). In particular, the size of the Korean market is expected to reach $1.729 billion (KRW 2.58 trillion) in 2020 from $1.633 billion (1.944 trillion won) in 2019, and is expected to reach 2 trillion won for the first time this year.
[ⓒ Seoul Economic TV (www.sentv.co.kr), unauthorized reproduction and redistribution prohibited]