Approval of Merger by Board of Directors in Lieu of Shareholders' Meeting
Projected Sales of 150 Billion KRW Next Year After Merger
[Asia Economy Reporter Lee Gwan-ju] Hanmi Science, the holding company of Hanmi Pharmaceutical Group, is reportedly making smooth progress in the merger process with its affiliate Hanmi Healthcare. Attention is focused on the synergy that Hanmi Healthcare, which has accumulated competitiveness in various fields such as soy milk, surgical treatment materials, and IT solutions, will create through the merger.
A Hanmi Science official stated on the 29th, "The merger process with Hanmi Healthcare is currently progressing smoothly," and added, "By incorporating the competitive business areas that Hanmi Healthcare already possesses, we expect a positive impact on key management indicators such as sales next year."
The official continued, "The merger with Hanmi Healthcare means that Hanmi Science will have a strong independent growth engine as the holding company of Hanmi Pharmaceutical Group," adding, "We will further develop Hanmi Healthcare’s existing business areas and devote ourselves to discovering and developing new growth engines to soar as an excellent company leading the global healthcare market."
Hanmi Science formalized the small-scale merger with Hanmi Healthcare on the 23rd of last month, and after a month, held a board meeting on the 23rd of this month in lieu of a shareholders' meeting to approve the merger. The merger date is November 1.
Following this merger with Hanmi Healthcare, Hanmi Science is expected to achieve sales in the 150 billion KRW range, about 500% growth compared to last year. Hanmi Science recorded standalone sales of 36.3 billion KRW last year, while Hanmi Healthcare recorded 104.6 billion KRW.
Hanmi Healthcare has established an independent manufacturing line at its Songtan factory in Pyeongtaek, Gyeonggi Province, producing its own brand ‘Wanjeon Duyu’ using a whole-soybean grinding method for soy milk. It also collaborates with various domestic and international brand companies. Recently, it developed a high-protein nutrition drink and launched a new brand called ‘Care Me,’ actively pioneering overseas markets.
Additionally, Hanmi Healthcare has proven its competitiveness in surgical treatment materials for 17 years, led by the anti-adhesion agent ‘Gadix.’ Based on its experience in maintaining IT systems for Hanmi Pharmaceutical Group, it is expanding digital-based IT system development, platforms, and solution businesses across the pharmaceutical industry and various business sectors.
Lim Jong-hoon, CEO of Hanmi Healthcare, said, “The merger with the holding company will be a groundbreaking turning point that multiplies Hanmi Healthcare’s unique global competitiveness accumulated over more than a decade,” adding, “We have firmly secured a customer base covering the entire healthcare spectrum, from medical professionals and patients to general consumers, and we expect to play a key role in not only advancing each healthcare business sector but also maximizing the future value of the holding company.”
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