HLB Global announced on the 9th that it has acquired Barabio, a company developing a diagnostic and management platform for chronic metabolic diseases.
HLB Global became the largest shareholder of Barabio by securing 68% of its shares through an investment of 6 billion KRW.
This investment was made through the acquisition of some existing shares of Barabio and participation in a third-party allotment capital increase.
Barabio is a bio-venture established in 2021 by Professor Ahn Cheol-woo, head of the Diabetes Center at Gangnam Severance Hospital, and is developing a diagnostic and management platform for chronic metabolic diseases including diabetes.
HLB Global stated, "Through this acquisition, we will target the silver healthcare market focused on geriatric diseases."
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