[Public Notice+] Philosis Healthcare Accelerates Financial Structure Improvement Through Sale of Tangible Assets Worth 18 Billion KRW

[Asia Economy Reporter Eunmo Koo] Philosis Healthcare is undertaking flexible asset management and improving its financial structure through asset sales.

Philosis Healthcare announced on the 22nd through a public disclosure that it will sell tangible assets including land and buildings located in Bundang-gu, Seongnam-si, Gyeonggi-do. The sale amount is approximately 18 billion KRW, which corresponds to about 26.63% of last year's total assets of 68.4 billion KRW. The transaction counterparty is Adpharma Co., Ltd., and the disposal is scheduled to be completed by the 25th of next month.

A representative of Philosis Healthcare explained, "The background of this asset sale is flexible asset management and financial structure improvement. The proceeds from the asset sale will also relieve the burden of convertible bonds issued with real estate as collateral, amounting to 14 billion KRW (11th issuance 12.5 billion KRW, 12th issuance 1.5 billion KRW)." He added, "This asset sale was decided to enable rapid fund execution necessary for businesses such as COVID-19 diagnostic kits and specimen collection kits."

This content was produced with the assistance of AI translation services.