Daily Brief Health Care: iRay Technology, Ship Healthcare Holdings, Meta Health Limited and more

In today’s briefing:

IRay Technology (688301.CH) – Overvalued; Performance Deceleration Will Lead to Valuation Correction
Ship Healthcare Holdings (3360 JP): Continues to Be a Strong Beneficiary of Japan Reopening
Meta Health: Forging a Digital Future for Healthcare

IRay Technology (688301.CH) – Overvalued; Performance Deceleration Will Lead to Valuation Correction

IRay Masters all the major core technologies. It has a complete technical system of TFT SENSOR design and invention patents in the field of scintillators,setting it apart from domestic peers.
The market where iRay is located has slow growth rate and obvious growth ceiling. The higher the short-term performance growth of iRay, the faster it would encounter a growth bottleneck.
IRay is overvalued. The valuation has already overdrawn the performance of the next few years. Any deceleration in revenue/profit in any given year would lead to a significant valuation correction.

Ship Healthcare Holdings (3360 JP), being a leading supplier of hospital consumables in Japan reported stellar Q1 results, with 7% y/y revenue growth in its medical supply business.
The impact of COVID-19 is easing in Japan and economic activities are gradually returning to normal. The number of surgeries is recovering due to increasing number of medical consultations.
Ship Healthcare is expected to report high-single-digit revenue growth in FY23, accelerated from low-single-digit revenue growth reported in FY21 and FY22.

Meta Health: Forging a Digital Future for Healthcare As a result, my leadership style is one of servant leadership,” said the Chairman and Chief Executive Officer of SGX-listed Meta Health Ltd.
With more than two decades of professional experience in the pharmaceutical and consumer health industries, Ng is well-positioned to oversee Meta Health’s pivot to the digital healthcare space.

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