CEO Conversations – Special Edition for CEO Week On Air: Dr. Pi-Jung Lin, Founder & CEO, Universal Vision Biotechnology (3218 TT)
(Photo Credit: Wealth Magazine)
Stepping into one of Universal Vision Biotech’s (UVB) eye clinics, we immediately noticed the energy and professionalism of the staff. The diagnosticians explain their diagnostic procedures, the breadth and types of various conditions, and potential treatments in great detail. The experience was quite refreshing even in Taiwan, where health care standards are already very high and in which the health care system has been ranked No.1 in the world. So, we asked UBV’s founder Dr. Lin: “What is the corporate culture of UVB? How have you managed to train your staff this well?”
He answered, “We believe in 3 things: Medical Technology, Service and Perfectionism. The opthalmic technology used by UVB is at the global cutting edge, and we have led the Taiwan industry in introducing new innovations as they occur. Our staff have hands-on professional experience using this equipment and keep abreast of the latest trends in technical improvements to make sure that we provide the best quality care. Secondly, there is a knowledge gap between customers and physicians. The best way to gain our customers’ trust and provide them with confidence in the treatment that they are receiving is to understand their concerns and share our knowledge of every single detail regarding that treatment. Lastly, we perform each surgery as if we are creating an elegant work of art. With over 20 years of experience, we have progressively sharpened our skills, allowing us to stand out from our local peers. We have over 1,000 SOPs at UVB. Setting up the SOPs is not the most difficult part – rather developing a culture where employees comply with all of the SOPs is the key to success.”
In addition to achieving excellence in providing medical care, UVB’s financial performance has also been outstanding. The company has a high net cash position, while both margins and ROE are trending upwards. We asked Dr. Lin – a rarity amongst medical doctors for also having achieved a CPA certification – why he has been able to run such a successful business. “It is because of how we think,” said Dr. Lin. “UVB is relatively aggressive pursuing the latest, best quality and safest treatments for our customers. However, getting the best technology requires significant and continuing investment. So, we manage our balance sheet in a conservative manner, to ensure sufficient funds for our pursuit of advanced technologies. At the same time, we run small scale tests of new business models and new treatments. When we become confident of their potential for success, we push the new methods out to all our stores and clinics. This the key reason why our financial performance is better and better each year.”
As the founder of the No.1 ophthalmic group in Taiwan, Dr. Lin is often asked about UVB’s prospects for further growth. So, we asked Dr. Lin what he thinks the future holds for UVB. He responded, “We believe there is ample space for us to grow. In 2019, we performed operations on over 10,000 patients. If we increase that number by 10,000 patients each year, UVB will treat 100,000 patients per year by 2028. And that number is only around 1% of the 15mn people in Taiwan who suffer from myopia. Thanks to the rapid advances made in technology over the past decade, one can use smart phones, tablets, watch TV, or enjoy new technologies like AR and VR,” he paused briefly, “But each of us has only one pair of eyes.”
Universal Vision Biotechnology will attend QIC’s CEO Week on Air, which will run from 8/31 to 9/4. Click here to find an introduction to the company and basic financial data.
If you would like to arrange a meeting with Dr. Pi-Jung Lin, please contact yvonnehuang@qtumic.com