December 21, Taipei, Taiwan – Kim Forest Enterprise Co., Ltd. (Stock Code: 6645), a major player in Taiwan’s genetic testing sector, today officially debuted on the Taiwan Innovation Board(TIB), priced at NT$30 per share. Kimforest is one of Taiwan’s few companies with a strong foundation in international testing equipment distribution, genetic testing, and advanced positioning in the next-generation sequencing (NGS) market. With Taiwan’s Ministry of Health and Welfare (MOHW) qualifications for Laboratory Developed Tests (LDTs) already secured, the company is strategically positioned to benefit from upcoming changes in Taiwan’s healthcare policies, with NGS coverage and mandatory LDTs certification for testing providers starting next year. These two significant policies are anticipated to boost Goldman GeneTech’s operational performance over the next two years.
Genetic testing is fundamental to precision medicine, with global market projections from Precedence Research in January 2022 estimating growth from USD 8 billion in 2021 to USD 15.8 billion by 2030, reflecting an 8% annual compound growth rate. In Taiwan, cancer remains the leading cause of death, with related healthcare expenditures reaching NT$133.4 billion in 2022, approximately 20% of the nation’s NT$800 billion total.
KimForest has completed the analysis of hundreds of cancer-related genetic samples, covering mutation testing for colorectal, breast, and lung cancers, as well as chemotherapy-related genetic testing. Its vast database of Asian genomic data and automated, internationally compliant analysis systems provide rapid and accurate results, aligning with international genetic databases and offering top-tier medical insights.
Kimforest entered the genetic testing field five years ago, collaborating with several leading medical centers in Taiwan. Focusing on genetic analysis for adverse reactions in cancer treatment has set a high competitive standard. With Taiwan’s National Health Insurance now covering NGS testing, even early-stage cancer patients are eligible for testing combined with targeted therapies. This presents an enormous demand, as Taiwan records approximately 140,000 new cancer cases annually.
Taiwan’s LDTs system will be fully implemented over the next two years, with certification requirements becoming mandatory. Goldman GeneTech has proactively prepared, establishing advanced laboratories and securing LDTs, CLIA, and CAP certifications—making it one of the few companies in Taiwan with all three. It has already obtained LDTs certification for key products and is entering contracts with multiple healthcare institutions.
The company is also developing a proprietary line of cancer detection reagents, advancing research, manufacturing, and in vitro diagnostics (IVD) certification while expanding its LDTs laboratory services to reach hospitals domestically and abroad. This approach aims to meet various price points and increase accessibility and market penetration.
Taiwan’s National Health Insurance system provides affordable, high-value healthcare, yet high costs in cancer testing remain a barrier for many patients. Health insurance coverage is expected to significantly enhance accessibility. Kimforest’s strategic entry into precision medicine aligns with this policy shift, aiming to expand high-level medical testing and wellness services to the public. With its integrated, one-stop service model, the company aspires to offer patients more efficient treatments, ensuring advanced medical testing and health services for everyone.
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