Huons Medicare buys M-Technology’s medical disinfection equipment biz
[THE INVESTOR] Huons Global, Korea’s health care group which sprawls from pharmaceuticals to healthy food and cosmetics, is continuing its buying spree with the purchase of M-Technology’s medical disinfection equipment business to strengthen its global presence.
The acquisition enables strategic business diversification and overseas market entry for the group’s sterilization unit Huons Medicare, according to the firm’s CEO Lee Sang-man. Terms of the deal were not disclosed.
“We will morph into a total solutions provider involving disinfection including an endoscope washer by obtaining original technology (from M-Technology),” he said.
Founded in 2002, M-Technology is one of the few companies in Korea that has the technology to develop and manufacture endoscope washer-disinfectors. It reported a revenue of 1.9 billion won (US$1.70 million) in 2016.
What made M-Technology an appealing acquisition target was its overseas network in Russia, Poland and some Asian countries.
“We expect Huons Medicare will be active overseas as M-Technology has already entered Russia by participating in a government project,” the firm said.
This is the latest in a series of its takeover deals this year. Its pharmaceutical arm Huons took over local food and agricultural biotech firm Biotopis in September, following the acquisition of dietary supplement maker Chung Ho Natural in May.
By Park Han-na (email@example.com)