Humasis invests 4 billion KRW in CareForU to target the blood glucose device market

[Asia Economy Reporter Lee Gwan-ju] Humasis announced on the 21st that it will invest 4 billion KRW in CareForYou, a chronic disease in vitro diagnostics specialist company, and target the global blood glucose device market.

Humasis is participating in CareForYou's 1.5 billion KRW third-party allotment paid-in capital increase and will also purchase convertible bonds (CB) worth 2.5 billion KRW that can be converted into shares in the future, making a total investment of 4 billion KRW.

Through this investment, Humasis plans to expand its business area from its existing main products, COVID-19 antigen test kits and female hormone diagnostics, to the blood glucose field, laying the foundation for continuous growth as a comprehensive point-of-care testing (POCT) company.

In particular, it plans to newly develop point-of-care glycated hemoglobin (HbA1c) analyzers and blood glucose monitoring systems (BGMS). These products are characterized by providing accurate analysis results within 4 minutes using a small amount of blood at the point of care.

Humasis's strategy is to continuously promote the development of additional diagnostic reagents utilizing CareForYou's research and development technology while achieving ▲maximization of sales through new business expansion ▲expansion of product lineup ▲technology extension.

A Humasis official said, “The global diabetic population is continuously increasing, and the global blood glucose device market is expected to grow at an average annual rate of about 9.6% until 2026,” adding, “We will demonstrate synergy based on CareForYou's technology and Humasis's domestic and international distribution networks to stand out in the global market.”

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