What has truly changed since Skylab's listing on the KOSDAQ is not the stock price, but the speed of expansion in its overseas medical data business. The company is not stopping at the sale of ring-type blood pressure monitors but is expanding its horizons into platform businesses targeting the European, Japanese, and U.S. markets, as well as pharmaceutical clinical trials and medical AI.
Skylab entered the KOSDAQ market on September 4, 2026. This listing was presented as a stepping stone to add funds to a growth strategy that expands the overseas supply of its flagship product, CART BP pro, and connects accumulated biosignals to a data business.
The key significance of Skylab's KOSDAQ listing is global expansion
The key to this listing is not a simple IPO, but Expanding the business scope from ring-type blood pressure medical devices to a global medical data companyCEO Lee Byung-hwan announced plans to accelerate entry into the global market after listing and to leap forward as a medical data production platform company.
Skylab is a company established in 2015 that currently conducts its business centered on the CART BP pro, a ring-type cuffless ambulatory blood pressure monitor. The company stated that as of June 2026, the product had been introduced to approximately 2,000 hospitals and clinics nationwide, including the Big 5 hospitals.
The listing on KOSDAQ marks a turning point for simultaneously expanding sales of CART BP pro and pursuing a medical data business based on CART NET.
What is the difference between the CART BP pro and a regular smart ring?
CART BP pro is a ring-type medical device worn on the finger. It reads changes in finger blood flow using photoplethysmography, or a PPG sensor, and applies an AI algorithm to 24-hour blood pressure changes during daily life and sleepIt is designed to measure.
Conventional ambulatory blood pressure monitors (ABPMs) use a method of wrapping a cuff around the arm and applying pressure at regular intervals. In contrast, CART BP pro was developed to reduce discomfort and sleep disturbances caused by arm compression, as it aims for cuff-free measurement.
While general smart rings focus on health management or fitness recording, CART BP pro differs in that it is a product approved as a blood pressure measurement medical device and covered by health insurance. Therefore, it is classified as a product closer to the areas of examination and prescription in hospitals and clinics than as a simple wearable accessory.
Domestic introduction base and proportion of overseas sales
Skylab has expanded the scope of its product usage based on adoption by domestic medical institutions. The company stated that the adoption scale is approximately 2,000 locations as of June 2026, demonstrating a trend of expansion into a nationwide distribution network of hospitals and clinics rather than being limited to a few specific hospitals.
Overseas business already accounts for a certain proportion of sales. Overseas sales in the first half of 2026 are approximately 2.6 billion won, representing 521 TP3 T of total salesIt recorded [a certain amount], and total sales for the same period were reported at approximately 5 billion won.
What stage is the expansion into Europe, Japan, and the U.S. currently at?
The company stated that it has secured CE-MDR certification, a medical device regulation in Europe, and MHRA registration in the UK. The signing of a supply contract with IEM, a European company specializing in 24-hour ambulatory blood pressure monitors, can also be seen as a move to expand local distribution and sales.
Expansion into the Japanese market was included in the initiatives, and partnerships with global medical device and pharmaceutical companies such as Omron Healthcare and Otsuka Pharma were also mentioned. However, as the supply volume or revenue contribution of each contract has not been disclosed, it is appropriate to understand the current phase as a business initiative aimed at expanding the overseas sales base.
The United States is pursuing FDA approval. Unlike having secured European CE-MDR certification and UK MHRA registration, the US process is in the approval pursuit stage, so it should not be interpreted as if sales approval has already been obtained in the US market.
From Medical Devices to Data Platforms with CART NET
Another pillar that Skylab has emphasized since its listing is CART NET. This platform has been presented as a foundation for expanding into data utilization fields such as pharmaceutical clinical trials and medical AI by accumulating and analyzing biosignals, including blood pressure.
While medical device sales typically center on revenue from device supply, data platforms aim for a structure that utilizes measured biosignals for research and analysis. Skylab is differentiating itself from simple manufacturers by emphasizing that it directly produces data using its own hardware and AI algorithms.
The plan to expand into multi-biometric products is in the same vein. By broadening the scope from blood pressure measurement to other biometric data, the applications can become more diverse, such as training data for medical AI or pharmaceutical clinical data; the company has set a goal to leap forward as a global medical data production platform through this.
Why You Should Look at Business Progress Rather Than Stock Price on First Day of Listing
Skylab's offering price was set at 10,000 won, and the closing price on the first day of listing, September 4, 2026, was 23,500 won. Based on the closing price, it was 1,351 TP3T higher than the offering price, and during the trading session, it fluctuated significantly, moving from 8,200 won to 28,740 won.
The institutional demand forecast competition rate was reported at 63.41 to 1, while the general subscription competition rate was 2.85 to 1. As the atmosphere during the subscription phase differed from the stock price trend on the first day of listing, it is difficult to judge a company's long-term business performance based solely on a single day's price movements.
Listing itself does not guarantee success in overseas expansion or improved profitability. Going forward, the expansion of overseas supply of CART BP pro, the progress of FDA procedures, and the generation of sales with actual customers for CART NET will be the criteria determining the success of the global growth strategy.
Skylab has begun its overseas expansion based on adoption by domestic medical institutions and overseas sales of 521 TP3 T in the first half of the year. Investors and the healthcare industry need to examine not only the increase in product sales in the next phase but also whether the medical data platform translates into actual business.
| division | Currently released content | Business meaning |
|---|---|---|
| Domestic | Introduction to approximately 2,000 hospitals and clinics | Securing distribution and testing infrastructure for medical institutions |
| Europe and the UK | CE-MDR Certification and MHRA Registration | Proceeding with regulatory procedures for local market entry |
| USA | Pursuing FDA approval | Preparation stage for entering the major medical market |
| Overseas sales | First half of 2026 weight 52% | Confirm the proportion of global business in revenue |