Engene Bio , a precision diagnostic platform specialist, announced on the 5th that it had signed a stock purchase agreement (SPA) to acquire 100% of the shares of Nuripharm, a pharmaceutical wholesale distribution specialist.
Nuripharm is a distribution company that supplies prescription and over-the-counter drugs to major university hospitals and pharmacies in the metropolitan area, recording average annual sales of approximately 40 billion won. Its stable network of clients and differentiated channel strategies are considered to have secured its competitive edge in the pharmaceutical distribution industry.
EngeneBio supplies precision diagnostic panels and software primarily to university hospitals, and anticipates synergies between its existing business and distribution network through this acquisition. The company sees this transaction as a strategic opportunity to expand its business portfolio beyond its precision diagnostics-based technological capabilities to encompass healthcare distribution.
According to data from the Health Insurance Review & Assessment Service, the domestic pharmaceutical distribution market is estimated to reach approximately 100 trillion won in 2024, representing approximately 6% growth year-on-year. Through this acquisition, Engene Bio has entered the rapidly growing healthcare distribution market, strengthening its foundation for sales stability and business diversification.
The company plans to internalize Nuripharm's distribution channels and implement digital logistics systems to improve distribution efficiency. This will increase profitability and expand its product portfolio to include healthcare-related products and MRO (Maintenance, Repair, and Operations) services, focusing on business structure innovation and securing future growth engines.
Kim Min-sik, CEO of Engene Bio, said, “This acquisition is a strategic decision to grow beyond our existing business based on precision diagnosis into a comprehensive platform company encompassing healthcare distribution,” adding, “We will secure a stable sales base and growth potential at the same time to create sustainable value in the global healthcare market.”
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