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.”