The column 'Analysis of Performance of Domestic Franchise Hospital MSOs' received intense interest from private clinics and hospital management back in 2023. Now, just two to three years later, the domestic hospital MSO (Management Service Organization) market is undergoing massive tectonic shifts beyond imagination.

Are franchise-type hospital MSOs really still raking in massive profits? After tracking recently updated financial data of major companies, the market has already been reshaped into a 'battlefield of mega-capital' where winners and losers are starkly separated.

Key Briefing: 2025-2026 MSO Market, What Has Changed?

• The Birth of a '100 Billion Won' Mega MSO: The revenue scale that previously hovered around the 30 billion won range has been broken. An MSO has emerged that has reached the 100 billion won mark, exploding its revenue nearly tenfold in just two years through the combination of multiple medical specialties (multi-brands) and aggressive expansion.

  
  

• The Polarization of Shock (Phenomenal 45% Surplus vs. Devastating Turnaround to Deficit): It is not just the outward appearance that has grown. While some MSOs have solidified their internal foundations with an overwhelming operating profit margin of a whopping 45.7% , the first-generation large-scale MSOs specializing in minimally invasive procedures and dermatology, which once dominated the market, are delivering a shock by turning into negative deficits one after another . Why have their fortunes diverged so sharply?

  
  

• The Naked Truth of Capital, the Frenzy Toward IPOs: Unlike aging MSOs that previously kept operating profits low due to tax issues, emerging giant MSOs are expanding their revenue and operating profit scales at a terrifying pace. This is clearly a move by massive capital aimed squarely at an IPO and an exit.

  
  

JAY's Management Insights

The positive functions of MSOs, which have served as the foundation of the K-Beauty industry by driving the growth of private cosmetic and plastic surgery clinics, are undeniable. However, we must be wary of outdated management practices that rely on a single brand, as well as the "influx of distorted capital" that targets indemnity insurance or infringes upon medical rights. The era has arrived where only genuine corporate-style MSOs—where clinical practice, capital, and hospital management are in perfect harmony—will survive.

Which brand hit 100 billion won in sales?

Which brand, exactly, hit 100 billion won in sales? And which first-generation MSOs have fallen into a swamp of deficits? If you are curious about the newly reorganized latest performance rankings for domestic MSOs based on 2026, as well as the exact names and financial data of brands that have shifted from profit to loss, please check out the full column via the link below.

[2026 Hospital MSO Revenue Comparison Update]

[2023 Hospital MSO Revenue Comparison]

The Future of the MSO Market

How will the MSO market change in the future? We must continue to keep a close eye on this market. Whenever new trends and changes emerge, we must adjust our strategies accordingly.

Tips for Successful MSO Operations

1. Provision of diverse services: Operate multiple medical departments to meet the diverse needs of customers.

2. Efficient management: You must find ways to reduce costs and increase profits.

3. Brand Image Management: It is important to build a trustworthy image.

   
   

These factors have a significant impact on the success of an MSO.

conclusion

The MSO market is a continuous series of changes. We must keep pace with these changes. Future success will be given to those who are prepared.

You should now have a better understanding of the latest trends in the MSO market and successful operational strategies. If you have any questions, please feel free to ask at any time!