KUALA LUMPUR: South Korean medical device company AdipoLABs Co Ltd is targeting more than RM100 million in new investments in Malaysia next year as the country becomes its Asia-Pacific hub.
AdipoLABs Healthcare (M) Sdn Bhd co-founder and director Moses Balagopal said the upcoming investment represents a significant step up from the company’s initial RM10 million commitment eight years ago.
“When we started, the investment was about RM10 million. It is now considerably larger. I won’t go into specifics, but we are looking at expanding into three-digit investment levels – above RM100 million – next year,” he told SunBiz.
Moses said Malaysia has evolved into the group’s operational hub due to its strategic location, cost-efficiency and the team’s proven ability to deliver consistent clinical, operational and after-sales support.
“Malaysia is central, and language can be a challenge for Koreans. This makes Malaysia ideal. It is also very affordable when converted into US dollars. Malaysian operations are extremely cost-effective,” he explained.
The company is currently in Phase 2 of its Malaysian expansion, with Phase 3 – an assembly plant – planned within the next three years.
“With the assembly plant, around 80% of our operations will be based in Malaysia, creating more jobs and enhancing economies of scale. It will be far more advantageous for Malaysia,” Moses said.
AdipoLABs initially focused solely on the domestic market before expanding through partners and licensing arrangements to Singapore, Thailand, the Philippines and Indonesia.
About four to five years ago, the group received approval from its Korean manufacturer to represent the brand across Asean.
“Today, we even have clients from as far as the UAE, Qatar, Turkey and Australia. That effectively positions us within the Asia–Pacific region. We approached the manufacturer to represent them across the entire region, and they readily agreed,” Moses said.
Looking ahead, the company is exploring opportunities in Australia, Turkiye, Eastern Europe and India, subject to medical device licensing requirements.
“Medical devices require regulatory approval in every market. We have a network of doctors and medical practitioners throughout Asia-Pacific, and it is through this network that we continue to grow.”
Moses said the company remains committed to expanding access to cancer hyperthermia treatment, the core technology of its Korean principal. “Many people are familiar with radiotherapy or chemotherapy, but hyperthermia is another option. There is clinical evidence supporting it, and outcomes are often better.”
On revenue expectations, Moses noted that providing precise numbers is challenging due to high operating costs. “The devices are still manufactured in Korea and traded in US dollars. The costs are substantial.”
However, he said Phase 3 – assembly in Malaysia – is expected to significantly reduce costs and make the devices more affordable for partners across the region. “At this stage, I’m unable to share further details. But in the near future, we hope to do so.”
Last week, AdipoLABs Co Ltd officially opened its Asia-Pacific central hub, operating through its Malaysian subsidiary, AdipoLABs Healthcare, alongside Red & Blue Co Ltd. The new regional office – the company’s first and only hub in Asia-Pacific – marks a key step in expanding its medtech footprint across the region.
AdipoLABs CEO Han Sung-ho said the expansion aims to strengthen the company’s leadership in noninvasive healthcare and support the development of a robust medtech ecosystem in Malaysia and Asean.
“As a research- and development-driven medical company, our presence here will help drive knowledge transfer, foster R&D collaboration, provide industry-standard training and enhance the country’s preventive healthcare capabilities,” he said at the official launch.
In addition, AdipoLABs signed two memoranda of understanding with the University of Cyberjaya to advance healthcare innovation, clinical research and talent development.
