1. What Happened at Mediana?

Mediana released its H1 2025 earnings report on August 14, 2025, reporting KRW 15.6 billion in revenue (YoY decrease), KRW 1.2 billion in operating profit (YoY increase), and a net loss of KRW 0.4 billion. The decline in defibrillator exports is identified as the primary cause of the revenue decrease.

2. Why These Results?

Despite the decline in revenue, the increase in operating profit is attributed to cost control and a potential increase in sales of high-value-added products. The net loss is likely due to increased R&D investment in AI healthcare and other non-operating expenses. The key takeaway is Mediana’s expansion into AI healthcare, demonstrated by proactive steps such as synergy with Selvas AI and the launch of MASA. Financial health also significantly improved, with the debt-to-equity ratio decreasing to 10.33%.

3. So, What’s Mediana’s Future Outlook?

Considering the high growth potential of the AI healthcare market and synergy with Selvas AI, Mediana’s venture holds significant promise. However, the timing of monetization for the AI healthcare business and exchange rate volatility remain cautionary risk factors. Despite the short-term sluggish performance, the long-term focus should be on the performance of the AI business.

4. What Should Investors Do?

Investment in Mediana should be approached with a focus on the long-term growth potential of its AI healthcare business. Investors should look beyond the short-term performance dip and closely monitor concrete achievements in the AI healthcare sector and the execution of its business expansion strategy, considering a long-term investment horizon. Risk management, including exchange rate fluctuations and the timing of AI business monetization, is crucial. Continuously reviewing future disclosures and adjusting investment strategies accordingly is essential.