Lemon Healthcare Secures 17 Billion KRW Series C Investment... "Reattempting IPO Next Year"

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[Asia Economy Reporter Lee Gwan-joo] Healthcare data company Lemon Healthcare announced on the 2nd that it has secured a Series C investment worth 17 billion KRW from Hanwha Asset Management Smart Healthcare New Technology Fund No. 1.

This investment is the second round following 7 billion KRW in December last year, bringing the total investment amount to 17 billion KRW. Both the first and second investments were made by acquiring newly issued redeemable convertible preferred shares (RCPS) from Lemon Healthcare.

Lemon Healthcare previously received 8 billion KRW from LSK Investment, Mirae Asset Capital, and Korea Technology Finance Corporation in 2018, and 10 billion KRW from institutions such as Shinhan Bank, KDB Industrial Bank, and Naver Fund in 2019. With this Series C investment, the total cumulative external investment raised by Lemon Healthcare amounts to 35 billion KRW.

Leveraging this investment, Lemon Healthcare plans to accelerate the development of personalized health information services using PHR (Personal Health Record) and intensify efforts to enter the global market, which had been restricted due to the COVID-19 pandemic.

Additionally, the company intends to reattempt its initial public offering (IPO) next year. Lemon Healthcare had applied for preliminary review for KOSDAQ listing in December 2020 but voluntarily withdrew in July last year due to prolonged review procedures.

CEO Hong Byung-jin stated, "By integrating IT technologies such as artificial intelligence and blockchain, we will advance personal medical data (PHR) technology and establish our position as a personalized healthcare service platform that provides precisely analyzed customized health service information."

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