"Doctors, Focus Only on Patients" BlueMTech to List on KOSDAQ Next Month

Pharmaceutical e-Commerce Platform Operation
Efficiency and Transparency in Complex Distribution Structure
Scheduled for KOSDAQ Listing on the 13th of Next Month

Pharmaceutical e-commerce company 'Blue M Tech,' which connects pharmaceutical companies with hospitals and clinics for drug transactions, is set to be listed on KOSDAQ next month.

On the 28th, Blue M Tech held an IPO press conference to announce its future strategies and vision following the KOSDAQ listing.

Blue M Tech is an online distribution company specializing in pharmaceuticals and quasi-drugs, operating the pharmaceutical B2B platform 'Blue Pharm Korea.' It submitted its securities registration statement on the 13th of last month and is currently conducting demand forecasting, with the scheduled listing date set for the 13th of next month.

Blue M Tech has secured partnerships with major domestic and international pharmaceutical companies as well as advanced logistics systems. As of the first half of this year, more than 27,700 hospitals and clinics are using its services. Its sales have shown an average annual growth rate of 86.04% from 2015 to 2022. The cumulative sales for the third quarter of this year reached 80.6 billion KRW.

Currently, Blue M Tech is expanding its business through partnerships with various pharmaceutical companies such as Bayer, SK Bioscience, Handok, Hanmi, Boryung, HK Innoen, LG Chem, and Hugel.

Going forward, Blue M Tech aims to transition from pharmaceutical e-commerce to a comprehensive e-commerce platform. It plans to expand its scale by diversifying commerce businesses, including the distribution market for refrigerated pharmaceuticals in pharmacies, development of a dental e-commerce platform, and sales of self-developed quasi-drugs and consumable products, thereby broadening its customer base and maximizing profits.

In the future, Blue M Tech intends to drive sales growth by providing member care services through an artificial intelligence (AI) engine. It is also striving to expand various services such as recruitment, job seeking, and community based on member share.

Jung Byung-chan, CEO of Blue M Tech, explained, "We have provided new value to the pharmaceutical distribution industry by simplifying the complex distribution structure and establishing a transparent sales system." He added, "Following a successful listing, we will leap forward as a healthcare total service platform company where pharmaceutical companies can focus solely on production and supply, and doctors can concentrate only on patients."

Blue M Tech's public offering consists entirely of 1.4 million newly issued shares. The expected offering price ranges from 15,000 KRW to 19,000 KRW per share, with a total offering amount estimated between approximately 159.7 billion KRW and 202.3 billion KRW. Demand forecasting will be conducted until the 28th to finalize the offering price, followed by subscription on the 4th and 5th of next month, with the KOSDAQ listing scheduled for the 13th. The listing sponsors are Hana Securities and Kiwoom Securities.

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