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德视佳国际眼科有限公司(01846.HK)

Deshijia International Ophthalmology Co., Ltd. (01846.HK)

長雄證券 ·  Oct 1, 2019 00:00  · Researches

  Business Overview Financial Summary

Established in 1993, Desi Jia International Ophthalmology is active in the vision correction industry. It combines German ophthalmology technology with 25 years of personalized customer service experience to provide high quality services to target customers with middle to high income levels. The group is also one of the few ophthalmology clinic groups with extensive geographical coverage, operating in Germany, Denmark and China. The Group provides a broad range of vision correction services to two major customer groups: (1) those aged 18 to 45, mainly seeking refractive laser surgery or posterior atrial lens (ICL) implants to treat myopia, farsightedness, or astigmatism; and (2) people over the age of 45, mainly seeking refractive lens replacement surgery to treat presbyopia or cataracts. The group's vision correction services can be broadly divided into refractive laser surgery (including full femtosecond laser surgery and femtosecond laser-combined quasimolecular laser corneal resection in situ); posterior atrial lens (ICL) implantation; crystal replacement surgery (including monofocal and trifocal lens replacement surgery) and others (including PRK/LASEK and ICRS implant surgery). According to data, in the advanced lens replacement surgery and refractive surgery market that does not include PRK/LASEK, the group's market share ranked first in Germany and second in Denmark according to revenue in 2018. The group also pioneered ZEISS trifocal lens replacement surgery as an independent treatment for presbyopia for customers who are not comfortable wearing reading glasses and/or progressive glasses.

Competitive advantage

The founder enjoyed an outstanding track record in the industry

Advanced crystal replacement surgery applied from Germany and Denmark

Risk Factors

Very dependent on brand image and reputation

Rely on surgeons and traditional ophthalmology techniques

Use of proceeds

Approximately 40% will be used to establish clinics in major cities in China, including Chengdu and Chongqing

About 33% are used as a group of clinics that are potential acquisitions in Europe

About 17% is used to increase marketing efforts

Approximately 10% is used to enhance information technology

The translation is provided by third-party software.


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