Sisram Medical (1696.HK)

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Fosun unit Sisram Medical says China will be its largest market as demand for cosmetic laser surgery rises
The conglomerate’s laser maker expects China to contribute 35 per cent of its revenue by 2023 as demand for aesthetic treatments increases

Maggie Zhang
PUBLISHED : Friday, 06 July, 2018, 6:04am
UPDATED : Friday, 06 July, 2018, 6:03am

Israeli medical laser maker Sisram Medical, a unit of Chinese conglomerate Fosun International, said it expects China to overtake the United States as its biggest market in five years, thanks to rising demand for cosmetic treatments.

China is expected to contribute more than 35 per cent of the Hong Kong-listed company’s revenue by 2023, followed by the US with 30-35 per cent, said Lior Dayan, Sisram’s chief executive. The US currently accounts for exactly a quarter of Sisram’s revenue, followed by China at 21 per cent, based on data from the company’s 2017 fiscal report.

The company’s products include lasers for non-invasive procedures such as hair removal and cosmetic skin treatments.

“China will be a leader for several reasons,” said Dayan on Tuesday. Among them are the “economies of scale it affords”, and a growing awareness among the population of aesthetic services powered by technology.
The company reported its best financial performance in 2017, when revenue gained 16 per cent on the year to US$137 million and profits surged 37 per cent to US$11 million.

Citic Securities expects Sisram’s revenue this year to top US$193 million, up 41 per cent than 2017. Its profits are projected to more than double to US$24 million.

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