Bangkok – Techno Medical Public Company Limited ("TM") has officially launched "The Parents Nursing Home" under the "THE PARENTS" project, marking a strategic move into the comprehensive elderly care business to fully embrace the aging society. This initiative coincides with the expansion of online sales platforms to boost revenue, following a report of 472.69 million baht in sales and services and a net profit of 7.56 million baht for the first nine months of 2022.

Ms. Suntharee Jarnlongbut, CEO of Techno Medical Public Company Limited (TM), shared insights on the company's business outlook for the remainder of the year, stating that the company is committed to investing in elderly care and specialized hospitals for seniors under the "THE PARENTS" project. Recently, in early November, they opened "The Parents Nursing Home" to promote, rehabilitate, and care for the health of the elderly in all physical conditions, including those bedridden or needing assistance, as well as those who are still independent and enjoy social activities that align with their lifestyles. The company is confident that the project will receive a positive response from the elderly community, as it represents a business expansion into a comprehensive "Wellness Center" for seniors.

Furthermore, it is acknowledged that "THE PARENTS" is part of creating added value for "TM" since the company's core business involves being a distributor of medical instruments and equipment, including consumables and medical devices for elderly care, as well as sterilization and virus protection equipment. This allows for the integration of medical and elderly care equipment sales under "TM" into "THE PARENTS". The company believes that the demand for medical and elderly care equipment will continue to rise annually, as evidenced by export statistics showing continuous growth in the value of medical and elderly care equipment exported from Thailand between 2019 and 2021, with growth rates of 0.7%, 5.4%, and 18.1%, respectively. This reflects the increasing global market demand. The Office of Industrial Economics estimates that in 2022, medical equipment and device exports will grow by 19.2%, generating over 32 billion baht in revenue for the country, which will positively impact "TM". Therefore, the elderly market is seen as having significant growth potential.

Additionally, the company is actively adjusting its sales strategy for the distribution of consumables and medical devices through increased online sales platforms to meet the needs of existing customers and expand its customer base.

Regarding the performance for the first nine months of 2022, the CEO of TM reported that the company generated sales revenue of 472.69 million baht, a decrease of 9.1%, with a net profit of 7.56 million baht, down 67.5% compared to the same period last year, which had a net profit of 23.29 million baht. This includes sales revenue from consumables amounting to 454.60 million baht, a 9% decrease from the previous year's revenue of 499.72 million baht, primarily due to the absence of ATK sales in Q3 2022, leading to a decline in sales for this product category.

However, the company has adjusted its sales strategy by introducing other product lines, such as disposable surgical products and items used in blood banks, which saw a sales increase of approximately 5% compared to the same period last year. This increase is attributed to the decline in COVID-19 cases since Q2 2022 and the Ministry of Public Health's declaration of COVID-19 as an endemic disease, allowing hospital operations, particularly in surgical departments, to return to normal, thereby increasing the demand for these products.

In the medical equipment and instruments category, sales amounted to 18.77 million baht, a decrease of 8.7%, due to the company's termination of its contract as a distributor for heart surgery products in 2019, resulting in reduced sales in this category. However, considering the gross profit margin has increased due to the decline in heart surgery product sales, the company has seen an increase in sales in the blood bank category, which includes blood bags and blood bag sealing machines.