Lameditech, a South Korean medical aesthetics device company, has yet to achieve the profitability it projected at the time of its KOSDAQ listing in June 2024. The company now plans to strengthen its existing medical and aesthetics device business while expanding into regenerative medicine to make 2025 a turnaround year.
Founded in 2012, Lameditech specializes in ultra-compact, high-power laser technology for medical and aesthetic devices. Unlike traditional bulky and expensive laser systems, the company emphasizes portability and cost competitiveness. Key products include the PURAXEL series for laser skin treatment and dermatological conditions, and the HandyRay laser blood collection device.
Lameditech entered the KOSDAQ market in June 2024 via the technology special listing track, after receiving A-grade ratings from two evaluation agencies in October 2023. Despite recognition of its core technology, the company chose this route due to persistent losses.
The IPO generated strong initial interest. The institutional demand forecast competition rate reached 1,115.4-to-1, and the offering price was set at KRW 16,000, exceeding the top end of the indicative range (KRW 10,400–12,700). On the first trading day, the stock surged over 190% above the IPO price.
However, the share price has since declined steadily, from a high of KRW 56,000 to around KRW 4,000. The downturn is attributed to disappointing financial performance relative to market expectations. At the time of listing, Lameditech projected 2024 revenue of KRW 9.2 billion and operating profit of KRW 1 billion, signaling a return to profitability.
Actual results have fallen short. Over the past three years, revenue grew from KRW 2.9 billion (2023) to KRW 6.6 billion (2024) and KRW 7.2 billion (2025). Yet operating losses widened from KRW 3.5 billion to KRW 11.8 billion, and net losses increased from KRW 8.3 billion to KRW 11.4 billion.
"This year marks the point where investment outcomes will become visible," a Lameditech representative said. The company plans to launch the HandRayGlue blood glucose monitoring device in the domestic market and accelerate overseas sales of its aesthetic devices.
Lameditech is also expanding into regenerative medicine. It aims to scale its human-derived allogeneic extracellular matrix (ECM) material solution business. At a recent shareholder meeting, the company added human tissue manufacturing, processing, distribution, R&D, and import/export to its business objectives.
To fund expansion, Lameditech recently issued KRW 8.3 billion in convertible bonds (CBs) with 0% coupon and 0% maturity interest rates. Institutional investors including Shinhan Investment Corp., NH Investment & Securities, and Samsung Securities participated. Of the proceeds, KRW 2.3 billion will go to facility investment and KRW 6 billion to working capital.
Source: Read the original report | Published: May 07, 2026