Grace Water Med Public Company Limited, or GWM25, a leader in the development and distribution of comprehensive haemodialysis products, is preparing to launch a sachet-style ready-to-drink protein product in the fourth quarter of this year, while continuing to expand its kidney health business. Thongchai Pami, Chief Executive Officer, disclosed after presenting the company's operating results to investors at Opportunity Day that in the first six months of 2026 the company recorded total revenue of 104.68 million baht, an increase of 8.91 million baht, or 9.30%, from 95.77 million baht in the same period last year. Total liabilities fell to 78.86 million baht, while shareholders' equity rose to 64.16 million baht, bringing the debt-to-equity ratio down from 1.28 times to 1.23 times. The company currently has dialysate production capacity of approximately 240,000 gallons per month and has expanded its One-stop Service Solutions, covering everything from consultation on setting up dialysis centres, design and equipment procurement to the recruitment and training of personnel. For its second-half plan, the company is still negotiating with new partners to extend the business in several areas and will expand all products onto every online platform. The company is confident it can sustain growth in 2026, will open one dialysis centre, and will expand by 10 centres per year starting in 2027, in support of its plan to prepare for a listing on the mai stock exchange by 2028.
KTMS expects better Q4 2026 results as new branches lift utilisation rate to no less than 80%
KT Medical Service Public Company Limited, or KTMS, expects its operating performance in the fourth quarter of 2026 to improve as new branches gradually come into service. Chief Executive Officer Kanjana Pongpattanadecha told Than Hoon that branches already open have a utilisation rate of no less than 80% of total service space, reflecting demand for dialysis services that remains high. The company currently holds contracts for 11 branches and aims to open them gradually in line with its plan, with the timing of each opening depending on the government licensing process, which now takes about 120 days, up from roughly 90 days previously. This delays revenue recognition from new branches relative to plan, but it is a shift in timing rather than a loss of revenue. For the first half of 2026, the company reported revenue from the sale of goods and services of 350.63 million baht, up 7.77 million baht, or 2.27%, from the same period a year earlier, with net profit of 12.99 million baht. In the second quarter of 2026, revenue was 175.96 million baht, up 1.41% from the same period a year earlier, with net profit of 5.69 million baht.
KTMS.BK · Demand · Positive New branches opening with utilisation of at least 80% reflect high demand for dialysis services, expected to lift Q4 2026 results.
KTMS.BK · Regulation · Negative Government licensing now takes about 120 days versus 90, delaying revenue recognition from new branches relative to plan.
Fresenius Medical Care Reshapes China Portfolio, Exits Peritoneal Dialysis
Fresenius Medical Care AG & Co. FMS is refining its China commercial strategy to prioritize advanced in-center dialysis and critical-care technologies while discontinuing local production and sales of the 4008A hemodialysis system and exiting its China peritoneal dialysis business. China contributes approximately 6-7% of the company's Care Enablement operating segment revenues, and the company will emphasize the high-volume hemodiafiltration-enabled 5008S CAREsystem, multiFiltratePRO and other advanced dialysis technologies, supported by its local manufacturing footprint and China Design Center. The portfolio actions are expected to result in approximately €110 million of one-time costs, primarily impairment charges, scrappage and termination costs, recognized as a special item in the third quarter of 2026, and FMS does not expect the changes to significantly affect the future revenue outlook for its China Care Enablement business. The company also appointed Rex Liu as market general manager, and Joe Turk, CEO of the Care Enablement operating segment, said the refined portfolio and strategy will strengthen its ability to compete and grow in China. FMS stock has gained 1.1% since the announcement on Friday and has a market capitalization of $12.19 billion.
Aging Population › Dialysis & Renal Care ▼Competition
FME.XETRA · Capital · Neutral Fresenius Medical Care exits China peritoneal dialysis and discontinues 4008A production, taking ~€110M one-time impairment/termination costs as a special item.
Fresenius Medical Care Refines China Strategy, Exits Peritoneal Dialysis Business
Fresenius Medical Care announced refinements to its China commercial strategy aimed at long-term growth and market leadership through a more localized portfolio and focused go-to-market approach. China represents approximately 6-7% of the company's Care Enablement operating segment revenues, and the company has operated there for more than two decades. As part of the changes, Fresenius Medical Care appointed Rex Liu as market General Manager and will increasingly focus on innovative technologies for in-center dialysis and critical care, including the high-volume hemodiafiltration-enabled 5008S CAREsystem and multiFiltratePRO. The company will discontinue local production and sales of the 4008A hemodialysis system and exit its China peritoneal dialysis business while maintaining existing obligations in the market. The portfolio actions are expected to result in one-time costs of approximately €110 million, primarily impairment charges, scrappage and termination costs, treated as a special item and recognized in the third quarter of 2026, with no meaningful impact expected on the future revenue outlook for Care Enablement's China business.
Aging Population › Dialysis & Renal Care Competition
FME.XETRA · Regulation · Neutral Refines China strategy with localized portfolio and exits peritoneal dialysis business, incurring ~€110M one-time costs but no meaningful revenue impact.
KTMS Targets 800 Million Baht Revenue, Opens 11 New Dialysis Units
KTMS has announced a total revenue target of 800 million baht for 2026, driven by the rising trend of kidney disease patients boosting demand for hemodialysis. The company plans to open 11 new dialysis units in the second half of 2026, with 4 units in the third quarter and 7 more in preparation. It will also install an additional 36-64 dialysis machines, increasing from the current 541, to serve over 120,000 dialysis patients nationwide. Ms. Kanjana Pongpatthanadet, Chief Executive Officer, revealed that Thailand has approximately 8 million people at risk of chronic kidney disease, with about 120,000 patients requiring hemodialysis. Hemodialysis is the primary treatment method chosen by 80% of patients. In the first half of 2026, the company reported revenue of 350.63 million baht, up 2.27% from the same period last year, and a net profit of 12.99 million baht.
The Current State of the 20 Million Yen Retirement Problem: Calculating the Required Amount with Latest Data
According to the latest long-term care insurance business report released by the Ministry of Health, Labour and Welfare on August 27, 2026, the number of people certified as requiring long-term care or support has reached 7.21 million, with approximately one in three people aged 75 or older receiving such certification. Based on calculations using the Ministry of Internal Affairs and Communications' 2025 average results, a household of a married couple aged 65 or older with no employment faces a monthly deficit of about 42,434 yen, resulting in a shortfall of approximately 15.28 million yen over 30 years. For single-person households, the monthly deficit is about 29,980 yen, totaling approximately 10.79 million yen over 30 years. Adding the average long-term care cost of about 5.42 million yen and a reserve fund of 3 million yen, the total exceeds 20 million yen, making the 20 million yen retirement figure a realistic defense line. Additionally, the number of insured persons aged 65 or older (Category 1 insured) was 35.84 million, a decrease of 50,000 from the previous year, but the number of certified persons increased by 120,000, indicating that while the overall elderly population is declining, the demand for long-term care continues to rise.
Taiwan Faces Demographic Crisis, Population Expected to Drop 48% to 12.15 Million by 2075
Bloomberg reports that Taiwan's population may decline to about 12.15 million by 2075, a drop of roughly 48% from 2026 levels, amid a continued decrease in births and young population, while the number of elderly rises significantly, posing long-term challenges to the labor market, economy, and defense capabilities. Estimates from Taiwan's National Development Council (NDC), based on household registration data, indicate that the working-age population will shrink by nearly two-thirds over the next 50 years. By 2075, the population aged 0-14 will be only 585,000, the working-age population (15-64) will be about 5.13 million, and those aged 65 and above will reach 6.43 million, meaning the elderly will outnumber the working-age population and account for more than half of the total population. These figures reflect risks after the population peaked at 23.6 million in 2019, and could also affect Taiwan's security, as the military still relies partly on conscription amid threats from China.
Thailand
