Boditech Med Reports Strong Q1 2025 Performance with Double-Digit Growth
• Q1 2025 consolidated revenue reaches $28.7 million (₩39.1 billion), operating profit $5.9 million (₩8.1 billion)
• Sales in MENA region grow over 40%; Africa and Latin America surge by more than 100%
• Marks the first year of strategic expansion into biochemistry, hematology, and veterinary diagnostics
Boditech Med, a global leader in point-of-care diagnostics, announced on May 8 its preliminary financial results for the first quarter of 2025, reporting consolidated revenue of $28.7 million (₩39.1 billion) and operating profit of $5.9 million (₩8.1 billion). This represents a year-on-year increase of 18% in revenue and 37% in operating profit, with an operating margin of 20.7%, reflecting both strong growth and solid profitability.
Broad-based growth across global markets contributed to the company’s performance. The Middle East and North Africa (MENA) region accounted for 25% of total revenue, growing by more than 40% compared to the same period last year. Markets in Africa and Latin America, which had previously shown weaker performance, rebounded sharply with sales more than doubling year-on-year.
Product portfolio diversification also drove performance. Sales of diagnostic products for vitamin D and anemia (Hemochroma) surged, resulting in over 140% growth in the “Other Conditions” category. Diagnostic kits for diabetes and hormonal disorders also posted growth exceeding 30%, while kits related to cancer and rheumatoid arthritis recorded notable gains.
The company’s diagnostic equipment segment continued to perform well, with over 3,200 new systems installed during Q1. More than 2,000 units of its flagship ichroma™ and AFIAS platforms, both equipped with multi-analyte functionality, were deployed. If this pace continues, annual installations could exceed 10,000 units, surpassing the pandemic-era average of approximately 9,000 units per year (2020–2021).
Eui-yeol Choi, CEO of Boditech Med, stated:
“We have prioritized quality enhancement across both diagnostic devices and cartridges. With our ongoing expansion into developed markets since 2023, quality competitiveness is no longer optional but essential. This aligns with the growing global demand for point-of-care testing in the post-COVID era, further strengthening our global presence.”
He added:
“2025 marks a pivotal year of transformation for Boditech Med, as we expand beyond immunodiagnostics into biochemistry, hematology, and veterinary diagnostics. We are accelerating our efforts to diversify our future business portfolio and reinforce our global strategy for sustainable growth.”