CHA Biotech seeks to resume healthcare unit IPO after affiliates’ merger

Quick Summary:

CHA Biotech Co., South Korea’s leading stem cell therapeutics developer, plans to resume an initial public offering of CHA Healthcare Co., a medical center operator, after combining the affiliate with CHA Cares Co.a hospital facility management and patient care service provider.

CHA Group also offers immune cell treatments to cancer patients and stem-cell cures to diabetes patients at its affiliate Chaum’s Total Cell Clinic Tokyo in JapanThe company posted 8.1 billion won ($5.7 million) in operating profit on sales of 701.2 billion won in 2023.

The planned merger is designed to bolster CHA Healthcare’s financial status as CHA Cares maintains a stable stream of revenue and profit through transactions with other CHA Group affiliates, sources said.

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Category: Economy

Markets: South KoreaAustraliaJapanSingapore

Topics: Biotech Cares Healthcare Center Medical Billion Financial Profit Rights Company Offering

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-26 @ 17:23:28 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Article Length: 573 words

Reading Time: 4 minutes read

Sentences: 29 lines

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Copyright Owner: © Korea Economic Daily

News ID: 26454269

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