[Market Focus] Neofect Surges on 27 Billion KRW Deal and Largest Shareholder Change...AI Medical Platform and New Businesses Accelerate

Neofect is showing strong performance. This is believed to be influenced by news that a stock purchase agreement has been signed, resulting in a change of the largest shareholder.

As of 11:07 a.m. on June 30, Neofect was trading at 1,743 KRW, up 9.55% compared to the previous day.

According to the Financial Supervisory Service’s electronic disclosure system, Neofect announced that it had signed a contract to sell 13.5 million shares held by the current largest shareholder, Scandi New Technology Association No. 278 and two others, to Petafield Co., Ltd. and three other parties for approximately 27 billion KRW.

Petafield will become the largest shareholder with a stake of about 21.67% after an extraordinary general meeting scheduled for August 13.

On the same day, changes to parts of the articles of incorporation and the appointment of directors are also planned as part of a management structure transition. The company stated that it intends to establish a board-centered, rapid decision-making system to accelerate the launch of new businesses.

Founded in 2010, Neofect has developed an AI-based rehabilitation platform for patients with motor and cognitive impairments caused by stroke and dementia, securing both U.S. FDA and European CE certifications. The company has won the CES Innovation Award for two consecutive years and has expanded into 21 countries globally, focusing on its U.S. and German subsidiaries.

Neofect plans to diversify its revenue streams by further developing its existing rehabilitation medical devices while adding new business lines. The company’s strategy is to pursue sustainable growth by securing liquidity and improving its financial structure at the same time.