[Asia Economy Reporter Jang Hyowon] Global healthcare specialist Ontec (CEOs Kim Jongwon and Kim Junghyun) passed the preliminary review for a merger listing with Daishin Balance No.8 Special Purpose Acquisition Company (SPAC) on the 31st. On the 1st, it submitted a securities registration statement to the Financial Services Commission, officially entering the public offering process.
According to the securities registration statement, the merger price between Ontec and Daishin Balance No.8 SPAC is 2,000 KRW, with a merger ratio of 1 to 12.8635762. The exercise period for the stock purchase rights is until June 1. After the merger, the total number of issued shares will be 87,036,952, the merger date is scheduled for June 14, and the listing date of the new shares is set for June 30.
Founded in 1999, Ontec is a first-generation company leading laser and energy-based medical device technology. Based on 106 registered and pending patents, it has continued to grow by entering both domestic and global markets through core technologies applied to surgical lasers, aesthetic lasers, RF (radio frequency), and HIFU (high-intensity focused ultrasound).
Ontec’s technological competitiveness, capable of research and development through product manufacturing, and its world-class product lineup received an A grade from both NICE Information Service and the Korea Technology Finance Corporation in a technology evaluation conducted last May.
Ontec’s flagship RF medical device, ‘Oligio,’ is recognized by both patients and doctors in the demanding skin beauty market for its pain-free procedures optimized for Koreans, the advantage of immediate return to daily life after treatment, and fast, highly satisfactory customer service.
In fact, more than 100 units were sold within three months of launch, and as of the end of last year, cumulative sales exceeded 533 units, accounting for more than 36% of Ontec’s sales. Additionally, steady sales growth is maintained with the laser medical device ‘PicoCare,’ and growth and profitability are expected to be secured through increased sales of the newly upgraded HIFU medical device ‘Tightan’ and consumables.
An Ontec representative stated, “Through the COVID-19 pandemic, our R&D core technology competitiveness and excellent product quality were recognized in the market, leading to the successful preliminary review for KOSDAQ listing. The company plans to advance laser and energy core technologies and expand indications through research and development via the KOSDAQ listing, and to maximize corporate value by strengthening domestic and global marketing for sustainable growth.”
Meanwhile, Ontec recorded sales of 51.1 billion KRW last year, a 70% increase compared to the previous year, with operating profit and net profit of 11 billion KRW and 17 billion KRW, respectively. Daishin Securities is the lead underwriter.
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