BP ring maker files for $20M IPO in Korea

Sky Labs, a South Korean medical device company specializing in wearable blood pressure monitoring technology, has started preparing for an initial public offering (IPO) on the KOSDAQ market. The company plans to raise up to approximately $21.5 million to support its transformation from a blood pressure wearable manufacturer into a broader medical data platform company and to expand its clinical research activities.

The company is best known for its ring-shaped blood pressure monitor CART BP pro, which enables cuffless and continuous blood pressure monitoring. The device has already received regulatory approvals in Europe and the United Kingdom and has been adopted by around 2,000 hospitals and clinics in South Korea. The Korean Society of Hypertension has recognized the technology as comparable to conventional blood pressure monitoring methods and issued what is considered one of the first official recommendations for ring-based cuffless blood pressure devices.

Sky Labs plans to use the IPO funding in three main areas: improving its wearable technology, expanding its product portfolio, and strengthening clinical evidence. Future developments include lighter and more durable blood pressure rings, additional monitoring capabilities for vital signs such as pulse rate and oxygen saturation, and eventually non-invasive monitoring of parameters such as glucose and blood lipids. These technologies will contribute to the development of an AI-powered medical data platform.

A key strategic shift for Sky Labs is moving beyond being a medical device company toward becoming a provider of continuous real-world health data. Unlike traditional medical AI companies that mainly analyze existing hospital data, Sky Labs aims to generate new longitudinal health datasets directly from wearable devices. This could support clinicians with more comprehensive patient information, enable patients to monitor their health in everyday life, and provide pharmaceutical companies with valuable real-world data for clinical trials and drug development.

For international expansion, Sky Labs emphasizes the importance of further clinical validation, regulatory approvals, and reimbursement coverage in individual markets. The company plans to leverage its European CE-MDR certification and existing clinical evidence to accelerate approval processes, including future FDA clearance in the United States.