NexTurnBio Affiliate Completes 32 Billion KRW Joint Investment in ChaHealthcare

NexenT BioScience announced on the 2nd that its group affiliates have completed a strategic joint investment totaling KRW 32 billion in 'Cha Healthcare,' an affiliate of the Cha Bio Group, through a new technology investment association.

According to the company, NexenT Bio invested KRW 12 billion, Mirae Industry invested KRW 13 billion, and EV Advanced Materials invested KRW 7 billion in this Cha Healthcare investment.

The 'Daishin-Y2HC New Technology Investment Association No. 1,' which is conducting the investment, is an investment association formed for equity investment in Cha Healthcare, which aims for an initial public offering (IPO) in 2025. The expected formation scale is approximately KRW 70 billion, and the general partners (GP) are Daishin Securities and one other company.

Cha Healthcare, a subsidiary of Cha Biotech, is building a global healthcare platform based on 60 years of medical expertise and know-how from Cha Hospital, supported by a medical network of 86 institutions across 7 countries including the United States, Australia, Singapore, and Japan. It is a global healthcare company that generates revenue by investing capital overseas and directly operating hospitals.

Focusing on the stable business portfolio of Daishin-Y2HC New Technology Investment Association No. 1 Cha Healthcare, the investment was made, and through this investment, it plans to acquire 16.25% equity in Cha Healthcare. The three NexenT BioScience affiliates that contributed KRW 32 billion are expected to secure approximately 7.6% equity value.

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