PETALING JAYA: PublicInvest Research has initiated coverage on eye specialist firm Optimax Holdings Bhd , with a 12-months target price of 83 sen.
In a research report today, PublicInvest said Optimax holds a pivotal position in the eye care sector, standing as the largest private pure-play provider of eye specialist services in Malaysia.
“Optimax plans to open three new ambulatory care centres at Atria, Kota Kinabalu and Bukit Mertajam by financial year 2024.
“Meanwhile, the group has entered into collaboration with Selgate Healthcare to establish the Shah Alam branch in Setia Alam and has signed a memorandum of understanding with Sena Resources to operate a comprehensive eye specialist centre at the Kempas Eye Hospital in Johor.”
The research house said Optimax aims to transcend its current status as a well-known brand in the Malaysian market to overseas markets, which include Cambodia (started operation in May 2024) and Vietnam.
“We believe Optimax’s growth prospect hinges on the growing demand for cataract surgeries, fueled by an increasing ageing population in Malaysia, whereby the proportion of individuals aged 65 years and above has increased from 7.2% in 2022 to 7.4% in 2023.”
Optimax was listed on Aug 18, 2020 on the Ace Market and completed the transfer of listing to the Main Market on Nov 3, 2022.