Seoul – March 19, 2024

"By solving inefficient hospital operations through digital transformation (DX), medical staff can focus more on patients, which naturally improves the quality of healthcare."

Hong Seong-pyo, CEO of People and Technology (PnT), recently shared in an interview with Money Today's Unicorn Factory, a startup media platform, about the company’s rapid rise as the leading provider of smart hospital solutions in Korea. He attributed the company's success to developing digital transformation solutions from the perspective of hospitals and healthcare providers.

Founded in 2013, People and Technology specializes in automating hospital operations through smart hospital solutions. The company’s flagship product, IndoorPlus SmartCare, has been deployed in 50 major public hospitals across Korea. Last year, it secured contracts to supply solutions to Incheon, Bucheon Sejong, Daegu, Wonju, Andong, Cheonan, and Sokcho Medical Centers.

The IndoorPlus SmartCare platform is divided into four key functions:

1. Device and Patient Location Tracking
2. 24/7 Monitoring of Medical Refrigeration Equipment
3. Patient Biometric Data Monitoring
4. Infectious Disease Epidemiological Investigation System

Location tracking helps monitor the real-time location of patients, wheelchairs, and mobile hospital beds, reducing the inconvenience of nurses searching for equipment and preventing patient wandering or equipment theft. The patient biometric data monitoring system tracks vital signs such as temperature, blood pressure, and heart rate using wearable medical devices, offering continuous 24-hour monitoring.

CEO Hong added, "By tracking the locations of wheelchairs and hospital beds, nurses can save 20-30 minutes a day. Knowing a patient’s location ensures timely medical schedules and swift action during emergencies."

Looking ahead, People and Technology plans to diversify its business by expanding globally and entering the home healthcare market. The company has already supplied IndoorPlus SmartCare to the Saudi Ministry of Health (MoH) and other government institutions, with discussions underway for further supplies in the Middle East, including the UAE.

In the home healthcare sector, the company is preparing to offer services for elderly care. This service will install the IoMT (Internet of Medical Things) gateway used in hospitals in homes, connecting with various devices to monitor and manage the health of elderly individuals.

Hong emphasized, "By analyzing the senior index and biometric data collected daily, we can predict the health prognosis of the elderly, which will improve the quality of healthcare services."

The company will also soon launch a subscription-based model of IndoorPlus SmartCare for nursing homes and general hospitals facing shortages of IT management personnel. The goal is to onboard 20 hospitals into the subscription model this year.

Hong said, "Hospitals that installed wireless LAN routers (Wi-Fi AP) in the mid-2010s are now considering adopting smart hospital solutions due to the device replacement cycle, which is a positive factor for expanding our business." He added, "This year, we aim for 20 billion won in sales and plan to push for a KOSDAQ listing."

Money Today article available for further reading.