Bekang Medical releases 2021 financial report

SUZHOU, April 1, 2022 /PRNewswire/ -- In the post-pandemic era, medical services are expected to see marginal improvements, and as the sector has fallen to historically low levels, this may reveal a segment worth watching.

Recently , the introduction of measures such as the national "three-child policy" and Beijing's "16 assisted reproductive technology projects included in medical insurance reimbursement" have all supported the vigorous development of the field of assisted reproduction

On March 30, Beikang Medical, a leading company in the field of assisted reproductive testing, released its 2021 financial report.

In addition to abundant cash flow, Beikang Medical has also demonstrated a good hematopoietic ability, which is mainly due to the strong growth trend of the core product PGT series

PGT series revenue up 41%

In 2021, the commercialization progress of Beikang Medical has achieved initial results, and the company's core business has achieved substantial growth

Bekang Medical has pioneered the field of third-generation test-tube detection kits and market segments in China in the PGT track.

The company's core product, the PGT series of kits, began commercial sales in April 2021, and achieved impressive sales performance in less than a year

In 2021, the company will fully promote the commercialization process, and the marketing expenses will reach 62.

Innovation and R&D drive accelerated upgrades

Under the circumstance that the sales of core products are so bright, Beikang Medical continues to increase investment in research and development to further expand the company's product pipeline in the field of assisted reproduction

In 2021, Beikang Medical's R&D investment will be 73.

In the field of assisted reproductive testing, Bikang Medical continues to develop preimplantation genetic testing (PGT) products, including PGT-M and PGT-SR kits, which will form a complete series of test kits with PGT-A to further Occupy the PGT field

In terms of instrument pipeline, the DA500 gene sequencer independently developed by Beikang Medical realizes the three-in-one of sample processing, high-throughput sequencing and data analysis.

Beikang Medical and Chongqing Maternal and Child Health Hospital have established the country's first intelligent embryo storage clinical model laboratory, including ultra-low temperature storage instruments, intelligent liquid nitrogen tanks and embryo management systems

In the field of andrology, the company's self-developed intelligent sperm quality analyzer, for the first time, can effectively detect the real-time morphology and motility of live sperm without using chemical reagents to stain the sperm, which fills the clinical market for live sperm.

In addition, with the strong support of the Suzhou Industrial Park government, Beikang Medical's production base and R&D building in Suzhou also officially started construction last year, aiming to build a production base for advanced manufacturing of upstream reagents, consumables and instruments and an advanced technology center.

Acquisition of Xingbo Bio , multi- channel product pipeline layout

Based on its strong innovative R&D strength and commercialized products with high-barrier competitive advantages, Bikang Medical is gradually building three product portfolios of andrology laboratory, embryo laboratory, and cryopreservation laboratory through acquisitions, cooperation, etc.
, to build a full reproductive cycle.
industrial chain
.
At the same time, through the sharing and complementation of sales channels and expert resources, the extension of the industry scale and the layout of multi-channel product pipelines are realized
.

In November 2021, Beikang Medical acquired Xingbo Bio, an early and large-scale andrology IVD diagnosis company in China, aiming to achieve a strong combination in the domestic andrology and embryo IVD fields
.
The cooperation between the two parties has opened up the product pipeline from the field of assisted reproduction to the field of andrology.
Through the sharing and complementation of sales channels and expert resources, the expansion of the scale of the medical industry and the layout of multi-channel product pipelines have been realized
.

 Science and technology benefit the people and actively fulfill social responsibilities

It is worth mentioning that while the company has achieved rapid development, Bekang Medical actively fulfilled its social responsibilities, and jointly launched and carried out the public welfare action of “Realizing 1,000 Rare Disease Families’ Healthy Childbirth Dreams” in conjunction with the China Prenatal and Postnatal Care Association.
The project donates test kits for free
.

The activity has achieved many phased results so far.
Bekang Medical has signed cooperation agreements with 44 domestic medical institutions with third-generation qualifications, covering 21 provinces across the country, and will radiate the prevention and treatment of rare diseases to the whole country, benefiting many patient families.

.

Policy dividends, huge potential for future market development

Since the implementation of the "Three-Child Policy", the policy of encouraging fertility has become one of the long-term strategic deployments of the Chinese government, which has also laid the foundation for the development of the assisted reproduction industry
.

On February 21, Beijing became one of the first cities to include 16 assisted reproductive services in medical insurance
.
According to relevant experts, it is expected that the second batch of policies to be introduced will be Shanghai, Guangdong and other economically developed provinces and cities
.
Under the policy trend of the gradual improvement of various policy supporting measures, the assisted reproduction industry is expected to usher in a period of rapid development in the next 2 to 3 years
.

Good performance and strong growth trend have established Beikang Medical's leading position in the industry of assisted reproductive devices
.
Against the background of policy tilt and demand expansion, the development of Beikang Medical is worth looking forward to
.
Excellent commercialization progress, stable financial structure, industry-leading layout and super-strong management team have become the capital market label of Bekang Medical
.
With the gradual maturity of the track, as a leading comprehensive solution provider in the field of domestic assisted reproduction, Beikang Medical is expected to lead the wave of the assisted reproduction industry
.