“This year, we aim for 20 billion won in sales through business diversification. We are also pursuing an IPO.”

“By solving inefficient hospital tasks through digital transformation , medical staff can focus more on patients, which naturally improves the quality of care.”

Hong Seong-pyo, CEO of People & Technology, shared this insight in an interview with MoneyToday’s startup media platform, Unicorn Factory. He explained the secret behind P&T’s rapid rise as the top smart hospital solution provider in South Korea: “Developing digital transformation solutions from the perspective of hospitals and medical staff has proven effective.”

Founded in 2013, P&T specializes in smart hospital solutions that automate hospital operations. Its flagship product, ‘IndoorPlus SmartCare,’ has been supplied to 50 major and public hospitals in South Korea to date. Last year, P&T also secured contracts with hospitals in Incheon, Bucheon, Sejong, Daegu, Wonju, Andong, Cheonan, and Sokcho.

The ‘IndoorPlus SmartCare’ system consists of four main components:

△ Device and patient location tracking

△ 24-hour monitoring of medical refrigeration devices

△ Patient biometric data monitoring

△ Infectious disease epidemiology investigation system.

‘Device and patient location tracking’ provides real-time location information for patients, wheelchairs, and mobile beds. This reduces the inconvenience for nurses who need to find patients and equipment, as well as prevents patient elopement and equipment theft. ‘Patient biometric data monitoring’ involves measuring patient data such as temperature, blood pressure, and heart rate with wearable medical devices and managing it 24/7.

CEO Hong stated, “By just tracking the location of wheelchairs and mobile beds, we can reduce nurses’ workload by 20 to 30 minutes per day. Knowing the patient’s location helps prevent delays in rounds, examinations, and medication, and ensures prompt response in emergencies.”

P&T plans to diversify its business this year by entering the global market and the home healthcare sector. The company has already supplied ‘IndoorPlus SmartCare’ to the Ministry of Health (MoH) and 2-3 other government agencies in Saudi Arabia and is discussing additional supplies with Middle Eastern countries like the UAE.

In the home healthcare sector, P&T is preparing an elderly care service. This involves installing an IoMT (Internet of Medical Things) integrated gateway in homes and connecting it to various devices to monitor and manage elderly health.

CEO Hong mentioned, “By analyzing our self-developed Senior Index indicators and daily collected biometric data, we can estimate elderly health prognosis. We expect this will enhance the quality of medical services.”

P&T will soon launch a subscription model of ‘IndoorPlus SmartCare’ for nursing homes and general hospitals facing shortages of IT personnel. The goal is to secure 20 hospital clients for the subscription model this year.

CEO Hong added, “Hospitals that installed wireless LAN routers  in the mid-2010s are now considering adopting smart hospital solutions due to device replacement cycles, creating a positive expansion opportunity. Besides hospitals, we aim to achieve 20 billion won in sales this year and pursue a KOSDAQ listing by expanding into various digital transformation fields such as defense and industrial safety.”