Continuing to join us throughout the day here at the Lytham Partners Fall 2024 Investor Conference. My name is Robert Blum, managing partner of Lytham Partners. During this presentation, this is going to be a fireside chat. We welcome Mobile Health Network Solutions, ticker symbol MNDR, on the Nasdaq, and joining us today from the company are the co-founders and co-CEOs, Dr. Siaw and Dr. Rachel. Also joining us today to moderate the conversation is Barry Sine. Barry is an analyst with Litchfield Hills Research, where he brings more than 25 years experience as a covering research analyst. Barry is both a two-time winner of both the Wall Street Journal and Financial Times All-Star Analyst, and was ranked in the top 5% of all analysts globally for stock picking.
So Barry, thank you so much for your participation as well here today. Before I do turn it over to Barry to moderate, I want to remind everyone that management is available for one-on-one meetings throughout the conference here. I know we're getting a little late in the day, but happy to get anything coordinated, whether it be today or even after the event. If you've not already signed up for a one-on-one meeting and would like to do so, you can shoot me an email. That's Blum, B-L-U-M, @lythampartners.com, or visit the landing page for the conference website there. That's lythampartners.com/fall2024. From there, you can click on the Investor Registration button and make your one-on-one selection. So again, thank you to everyone for your participation today. Barry, the floor is all yours.
Thank you, Robert, and good afternoon, everyone. I'm looking forward to this session. I've known this company for quite a while. I will refer to the company as Matter Doctor. The Mobile Health Network Solutions is the formal name of the company. The trade name that they operate in Singapore and an increasingly growing number of companies is Matter Doctor, so that's a little easier off the tongue to pronounce. So the company, in my view, is unique among telemedicine companies globally, in that it's really run by doctors, and as you're going to hear in a few seconds, these doctors have a real passion for bringing healthcare to underserved communities, and the tool for doing that is telemedicine.
But what you're going to hear in the next 30 minutes is telemedicine is just the start of what they are looking to do with their technology platform, and as the doctors will tell you, I think they're unique in that they bring technology expertise as well as very deep, very extensive medical expertise. So with that, doctors, I don't know how you want to handle this, but could you give us a brief background of yourselves, not just in healthcare, but in IT?
Thanks, Barry. For a start, yes, although I'm a doctor, but, for years, more than 30 years actually, in the times when I was back in the universities, I've always been very interested in databases, going through a system, analyze how we can actually use technologies to fine-tune the delivery of healthcare. So tech has always been in our blood in many ways, from databases, how to fine-tune. So in my previous, work in the Ministry of Health, as well as in other portfolio, I have actually deep dive into a lot of, data-related works, as well as technology-related works.
And when I see mobile as the future, when phone tech was such ubiquitous tool, I see a great opportunity in delivering using technology to deliver care across the globe, and that's how we start to have this wonderful vision and dream for a future where we can actually meet the underserved. And I will pass to Dr. Teoh. She is someone who really love tech and IT.
Thank you, Barry. Thank you, Dr. Siaw. Thanks, everyone, for having me here. I will give you all a brief introduction about myself. I have a very humble background. I've been always a practicing doctor all my life. I grew up in Malaysia, and I actually completed my medical education in Singapore. Singapore is a very small island in Southeast Asia, just at the south of Malaysia and in between Indonesia islands. Okay, so I was practicing in various hospitals in Singapore, and I was a surgeon by training, so I was in the hospital for about six years, and subsequently, I feel that, I'm not a specialist type, I'm a generalist type. I noticed that I do actually enjoy solving problems, and that's how it started, the journey of solving problem.
So when I start my first clinic as a family doctor, I start to work on aesthetic, I start to work on IT. So I have a bit of knowledge of everything. In the end, I feel that what I can do for my patients, because I see patients in my clinic day in, day out, so they do actually come with their own set of problems. At times, during the peak hour, I find that I'm not able to deliver a full suite of. I will say, I can't. I'm not able to actually deliver good care to my patients during peak hours, when I have very short period of time to see many patients. I start to wonder whether technology can actually change this landscape.
Because as a family doctor, in one morning, four hours, I can, my clinic can be packed with patients, let's say, about 30 to 40 patients, you need to see all of them in one morning. So I start to think whether if I were to improve the technology, improve the CMS, the clinic management system, will I be able to improve the delivery of care? So that's how I actually met Dr. Siaw, because Dr. Siaw, at that time, is already, he was already running this, CMS company called Gloco, which is actually quite established in, Singapore. So after talking to Dr. Siaw, I realized that he has a great vision in telemedicine, and also, great vision in bringing technology and in improving the healthcare landscape. And that's how we actually ventured deeper and thought about telemedicine. Why telemedicine?
The reason is, when we see patients in the clinic, our interaction with our patient is only five to 10 minutes. What about extending this care to improve the care by having a continuity of care, complete the loop of care? What does that mean? It means that when a patient leave the clinic, the patient will still be able to have a communication channel with you. They're able to text you, they're able to see the doctors in your network, and even when you are not in the clinic, your patient will still be able to access to the care that they need.
So moving on, we actually built a system, a telemedicine system, that's so sophisticated that we not only improve the care, we also actually bring all the medical providers into this huge network to actually exchange knowledge and such, and the rest is history. And that's why we are here. Okay, I... Yeah, that's all.
Doctors, Dr. Rachel, you mentioned history. For new investors who are coming in, looking at the company, maybe you guys could give a brief snapshot of who the company is today, where you operate, what you do, what services you provide, when did you start? You know, obviously you're a Singapore-based telemedicine provider. You've recently branched into Indonesia and Malaysia, but could you give new investors a bit of a catch them up? When did the company start? What have you done? What do you offer now? Where are you offering services?
Okay, thanks, Barry. So I think in a snapshot, we start around 2016. That's barely seven years ago, where we begin our first humble journey. Now, over the last seven years, we have actually started to integrate and bring in tons of services, ranging from appointment booking, home care, providing of even during the time of COVID, home swab. But above all, we have actually today delivered highly affordable, 24/7, near-instant care, connecting patients to the doctors, and we are talking about quality doctors here from Singapore. And not only that, we have expanded now to the reach of... Since the last time we met, now we're in 27 countries.
We have served and reached our forums now, where underserved communities, people from as far as even, talking about Pakistan, East Timor, can actually hop into the forum to reach out to discuss topics, health-related topics, that's of concern to them. Pockets of communities of care has been built around the world, and that actually start from a small vision of providing continuous care beyond the four wall of our clinics. Now, the vision is actually to provide continuity to the rest of the world. Not just that, Barry, it's in terms of providing affordable care. Now, in terms of our regionally wise, we have started from Singapore, consolidated our footprint in Singapore. Today, since our listing in Nasdaq, we are surely and gradually going out beyond the shore of Singapore's to Indonesia, Malaysia, soon to be into Vietnam in the coming months.
Now, the reason is, there are huge areas and pockets of need in the region, and having built a platform that's highly scalable, that's highly expansible, we believe that our model will be able to serve communities around the APAC region, and that's why we have always that focus on that. Maybe, Dr. Teoh, you want to add on something?
Thank you, Dr. Siaw. I think you have pretty much encapsulated most of the services that we cover. Okay, maybe I would like to add one or two points why our company is unique. What makes MaNaDr different from other platform? So when we talk about telemedicine, we were just thinking, "Oh, it's just a messaging, a video call. What's so special about it? I mean, it's just a communication tool, right?" So MaNaDr is more than that, because it's a med tech. It's a company, it's a med tech company. We actually take pride in ourself in building a MaNaDr operating system that connect all the services seamlessly. What does that mean? It means from the moment a patient start a consultation, right to the end of the consultation, right to the fulfillment, right to the system that the doctor use in the clinic, and-...
to the back end where all the database is integrated. It sounds easy when I say it, but when you are the programmers, when you belong to the back end team, you will not be able to fathom how difficult it is for all system to integrate seamlessly. So look at everywhere around us. The healthcare is a very fragmented landscape. You can have one clinic using system A, you can have another medical group using system B, and these two systems don't talk to each other. When a patient goes from one place to another, in some countries, the patients have to bring the record with them. Sometimes it's in paper form. Some of them have to record in their own phone, in their own maybe Apple iOS system, that is iHealth, or even Android health app.
But you can see that all this pocket of medical data is all over the place. It's either the patients or with Doctor A, or with Doctor B. But if this patient were to get good clinical care, there must be a good sharing, a good system where all the medical records for this patient is shared among all doctors. So how do we do it? We actually make sure that the data is in the hand of the patient.
It means that wherever the patient goes, be it in Paris or Singapore, or even in New York, the patient will be able to bring the record with him or her and see another doctor, pass the record to the doctor, and the doctor will be able to understand the full record, the past medical history of this patient, and deliver the best care to this patient. And that's what is unique about MaNaDr. It's more than a telemedicine platform. We are also a MedTech company that integrate all the system.
You're a Nasdaq company with very rapid revenue growth, which, as an analyst, I forecast will continue. I wanted to talk about some near-term areas of growth. You know, I see your growth driven by really three factors. One is your existing business, more telemedicine visits in Singapore. Two, adding new services, and last time I was there, we talked extensively, not just in Singapore, but globally, obesity and related healthcare issues with excessive weight is a significant issue, and you're uniquely positioned to address that. Then, you know, the third area of growth that I see is geographically, and you've put out press releases recently, where you've talked about Indonesia, Malaysia, and each country is a little bit different.
Malaysia and Singapore were at one point a single country, and I believe both of you doctors are from Malaysia, so Malaysia is really very, you know, close and near to you. You know that. Indonesia, you approach a little differently. You entered into a partnership with a pharmacy, and then you said you'll enter Vietnam relatively soon. Vietnam is the home to your IT operations. So each of these countries, you have a little bit of something unique, so could you talk about the near future, and what some of these services and geographies are that are gonna drive growth?
Thanks, Barry. For a start, I think in Malaysia, we have actually started some bases. In fact, our central operation has started in Kuala Lumpur, which is the capital of Malaysia. So in the same way that we've grown the Singapore models, the first thing that we have reached out in Malaysia is to actually kickstart our operation, providing affordable 24/7 telemedicine care, with instant near instantaneous care to all the people surrounding the countries. And our vision is very clear in Malaysia. There are 13 state in the country of Malaysia. How we intend to do it is, we will expand state by state. Bear in mind, Malaysia has a population of 34 million, which is actually six times the size of Singapore, and we believe that for countries like Malaysia, it is a fertile ground for the growth of telemedicine.
The good thing for us is, there are very few companies, in fact, none at all, Barry, that do what we do, and what we can do best there. So we believe that this is a country where there's a huge potential of providing affordable care. And not only that, we are actually already in the process of tying up with the big pharma in actually Malaysia, too. Now, that will provide us instantaneous access to more than 500 pharmacies across the countries, where we can actually deliver medicines to them. Now, talking about Indonesia, we have kickstart our operation. We have presented our model to our partner, Lifepack, and they have... In fact, today we just met them.
They have, in fact, actually talking about how actually to use exactly what we have told them to tie up more than, not just their pharmacies, but across the island, more than 1,000 pharmacies, to serve the archipelagos of Indonesia. Now, Indonesia is a country making up of hundreds of islands. Each islands have their own uniqueness. Now, telemedicine is the best way to bridge care across countries that's make up of so many islands, and each with their own local pharmacies, and we believe that actually signal good potential for us. Now, going to Vietnam market is a place that we have always want to enter. Now, we are very focused on that, and we know that exactly in Vietnam, the target focus group will actually be the women, so in fact, Dr. Teoh have touched on that very since the last webinar.
We have actually added on a consultation purely for female patients attended by female doctors, and we see huge demand in this area of growth. There are many females who refuse to see doctors because the doctor is a man, and we are already getting traction for that. We have launched these services in Singapore. We may even launch a technological platform purely to serve the women of Southeast Asia and the Middle East. This is unique, and because of the cultural differences, we think this is an untapped pool that has tremendous potential. Now, this is in terms of regional expansion, in terms of how we look at each country by itself. So you are right, in terms of the weight management, it is 60% of the global burden, equally in Singapore. Since we last met, we have actually seen traction.
It is moving upwards, and we are fine-tuning our delivery model to make it even better, more targeted, so that a lot of unmet need can come. And one of the best thing that we have actually discovered over the last one month plus is a lot of these patients come back to continue to see us, to follow up on with us. Now, it is a solution that... it is a problem that need a unique solution. Our platform is actually well-positioned to meet this unique need of continuing the care for people in this category, bringing them out, not from the house, but delivering this care into their house and into the home, and that's unique, and we are actually seeing good traction of that. So, Dr. Teoh, you want to add on? Yeah, I think-
Dr. Siaw, you are always so meticulous. I think you almost covered everything.
Yeah.
Yeah, but I do have some,
Mm
... some concept I want to highlight to everyone-
Yes
... is that because we do get asked a lot of questions about us going to various countries, what is special about this country, Vietnam, younger population, or maybe even Indonesia, it's a vast land. So different country will have different challenges and, about women prefer to see male doctors. Maybe this is an Asian thing, right?
Yeah. Mm.
Maybe not so much on the western side, it's the eastern side, but one thing for sure is this: no matter what is the color of your skin, no matter what language you speak, we are all the same. We are all humans. All of us will fall sick, all of us need tender loving care from our doctors, all of us need comfort. That's where the common ground is, so regardless where we go, as long as our priority are the patient's welfare, we will never go wrong, so whichever country we go, be it Indonesia, even New York, or even China, wherever we go, our philosophy is the same. We must make sure we deliver the best care to our patient.
So this is a strength of MaNaDr, because being a medical doctor myself, I totally understand the pain point of a patient. Healthcare is very confusing. You do not know which specialist you need to see, and when you have a tumor or you have a lump in your neck, you will be very worried. "No, I need to see a specialist the next day." So that's where we come in, because we provide 24/7 service, 365 days, every day, right? And we have a large group of doctors, and we are all in the same fraternity, where we actually exchange opinions, and we actually educate each other.
That's where we come in, and we bring the patient to the correct specialist, or sometimes we can even explain to patient, even before they see a specialist, what they are expecting, why they shouldn't be too worried, or why they should be worried. So going to all these countries, as long as we put patient our top priority, we will never go wrong.
Okay, and as this is an investor conference, investors are obviously focused on revenue. You've had rapid revenue growth.
Yeah, of course.
You're currently not profitable, but you have a path to getting to profitability. Could we talk financial numbers for a few minutes, maybe to wrap this up and give investors some financial perspective on the company?
Yep. Thanks, Barry. I think in, in around a month's time, we should be announcing our financial numbers for the last financial years. I think the numbers should. We are quite pleased with our numbers. But, having said that, as we grow regionally, as we expand, the company has always had to balance growth versus, profitabilities, versus, in terms of, how, what we achieve. Now, we are looking at two areas of revenues: collaboration, bringing up partnership. I think that will increase our revenue quite fast. The other part is, of course, how we push it out to the regional market beyond the shore of Singapore. Locally, our numbers should continue to grow. Going across the region, we think the pickup should be good in other countries.
Now, it is always very interesting to note that when we go to any countries, even in Singapore itself, when we start, the tragedy is always the first six months to one year, it is a slow uptake, but it will go into an exponential growth a year later, one half year later. So if you're looking around the initiative that we put in, we are looking hopefully for good numbers to come in in the next one and a half to two years. Compounding growth that can come in quite tremendously. But it all boils down, Barry, to how we, well, as a team, as a company, how well we execute them. I would say the opportunity is vast, okay? The opportunity is huge in the Asia-Pacific, and we are well positioned to grab all of this opportunity.
And of course, to the investors out there, it's all a lot of chicken and eggs things. If today I have lots of funds from you guys, I think we can actually grow the company extremely fast in terms of there are so many opportunities. In the last six months, we have looked at so many potential target across the region: Malaysia, Indonesia, Vietnam, even Thailand, Philippines. There are huge opportunities, but as a company, we strategize. We look at the where we are getting our fund from. We are working very closely with our U.S. partners and even locally in Singapore, to tap on any additional fund that will accelerate, expedite our growth. Yes.
Okay, I think that's a great way to wrap up a very optimistic look at future growth. And, doctors, I want to thank you both, you know, for joining us, and that'll wrap up our session. Thank you.
Thanks a lot.
Fantastic, conversation there, Barry. Thank you again for leading it. Dr Siaw, Dr Rachel, thank you very much for your participation. Again, just want to remind everyone that if you've not already scheduled a one-on-one meeting with management, would like to do so, shoot me an email. Again, that's Blum, B-L-U-M, @lythampartners.com. Visit the landing page for the website, lythampartners.com/fall2024. Again, from there, you can click on the Investor Registration button, and this session will be available for on-demand as well. So again, thank you to everyone for your participation. We hope you've enjoyed the conference thus far and for what's still to come. We'll talk to you all again soon.
Thanks.
Thank you.
Thanks, Robert. Thanks for tuning in. Bye-bye.