CBC-led consortium acquires significant stake in Korea’s largest aesthetic medicine company

Seoul, South Korea, August 24, 2021 / PRNewswire / – A consortium led by CBC Group (“CBC”) today announced the signing of definitive agreements to acquire a 46.9% interest (the “Transaction”) in Hugel, Inc. . (“Hugel”, 145020.KQ) of Bain Capital. Hugel’s market capitalization is approximately US $ 2.5 billion. Consortium members include CBC, asia largest investment company dedicated to healthcare, headquartered in Singapore, Mubadala Investment Company (“Mubadala”), on Abu Dhabibased investor, GS Holdings Corp. (“GS”), the leading commercial group South Korea, ranked 7th in terms of total revenue and 8th in terms of total assets and IMM Investment Corp. (“IMM”), a leading Korea-based investment firm investing in alternative asset classes, including growth equity, infrastructure and venture capital.

Michael Keyoung, MD, PhD, Managing Director and Head of North America and Korea at CBC, said, “We are delighted to continue this incredible opportunity together with our strategic partners Mubadala, GS and IMM. This marks the start of CBC’s journey into the global medical aesthetics industry, in addition to our current pharmacy, medical technology and service exposure. By leveraging our presence in international markets, we are confident that Hugel, as a Korea-based company, will become a leading global company in the field of aesthetics by expanding significantly in United States, Europe, China and the rest of the world. CBC will continue to grow its global healthcare portfolio with the strong support of our global investors. ”

Camilla Macapili Languille, Head of Life Sciences at Mubadala, said: “We are very excited to embark on the growth of Hugel in partnership with CBC, GS and IMM. This opportunity cements Mubadala Life Sciences’ entry into Asia alongside our colleagues from the Mubadala China Investment Program team, who already have an established presence in China and a long-standing relationship with CBC. We will work closely with our consortium partners and leverage our network to support Hugel’s vision to become a leading global aesthetic medicine company. “

Hein tae-soo, President of GS, said: “We are very pleased to partner with CBC, Mubadala and IMM to bring Hugel to the next level of growth by combining our respective expertise with the well-positioned product offering and competitiveness of the company. company in the world market. . The commitment of this partnership underlines our intention to develop our activity by diversifying our organic portfolio. ”

Tim chang, President and CEO of IMM, said: “We are delighted to partner with CBC, Mubadala and GS to invest in Hugel, thereby strengthening our global footprint. With IMM’s past success in the healthcare industry, we are confident that we can help Hugel grow beyond Korea to become a true global player. ”

As CBC continues to strengthen its presence in the healthcare sector in Asia, this transaction marks its strategic entry into the medical aesthetics sector, joining a leading portfolio in the pharmaceutical and biotechnology, medical technology sectors. and services. Founded in 2014, CBC has always focused on control-driven acquisitions and investments in building platforms in leading Asian companies. Through its entrepreneurial vision and its desire to build and transform healthcare businesses, CBC plays an active role in supporting its portfolio companies in the development of long-term and innovative growth strategies.

Founded in 2001, Hugel is the No. 1 leader in botulinum toxin and hyaluronic acid fillers in Korea and also develops, manufactures and distributes cosmeceuticals. In October 2020, its injectable botulinum toxin type A has officially received marketing authorization from the National Medical Products Administration of China, which made Hugel the fourth manufacturer of botulinum toxin type A products approved for launch in China and the first of its kind South Korea. Along with this approval, Hugel plans to obtain marketing authorizations in Europe and United States in the next 12 months.

Morgan Stanley is acting as financial advisor to CBC in connection with the Transaction.

About Radio-Canada

Radio-Canada Group, asia largest investment company dedicated to health, committed to creating value and integrating global resources. In partnership with the world’s best entrepreneurs and scientists, our unique investor-operator approach has enabled the world’s leading healthcare companies to expand access to affordable medical care, catalyze innovation and improve performance. effectiveness in meeting unmet medical needs around the world. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals headquartered in Singapore with global offices in Shanghai, Beijing, Hong Kong and new York, and presence in Boston, San Diego, San Francisco, and Tokyo. CBC is focused on platform building, buyout, credit, and growth-oriented opportunities in several key areas of the healthcare industry, including pharmaceuticals and biotechnology, medical technology, and healthcare services. For more information, please visit www.cbridgecap.com

About Mubadala

Mubadala Investment Company manages a global portfolio aimed at generating sustainable financial returns for the government of Abu Dhabi.

Mubadala’s US $ 243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple industries and asset classes. Mubadala draws on deep sector expertise and long-standing partnerships to generate sustainable growth and profits, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.

Based at Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, new York, San Francisco and Beijing. For more information on Mubadala Investment Company, please visit: www.mubadala.com

About GS

GS is made up of GS Holdings and various subsidiaries and affiliates, including GS Energy, GS Caltex, GS Retail, GS EPS, GS Global, GS E&R, GS Sports, and GS E&C. GS is the 8th group of companies in Korea in terms of assets.

More than 36,000 employees from 80 subsidiaries work in 93 companies and branches in 32 countries around the world. Its assets include the world’s fourth largest single-site refinery, Korea’s largest private sector power company with a capacity of 5.7 GW, and Korea’s leading integrated online and offline commerce platform. .

As a leader in the fields of energy, retail, construction and services, GS has defined its vision of “GS # 1 Value” based on the management philosophy of “Create new values ​​in life and dreaming of a better future for our customers. “and the shared values ​​of customer satisfaction, life solution, rewarding workplace, respect, passion and energy With this goal, all employees must act as guides to improve people’s lives by providing comfortable and convenient products and services.

For more information, please visit www.gs.co.kr

About IMM

IMM is one of Korea’s leading national investment companies with $ 4.7 billion AT M. Since its inception in 1999, the company has extended its investment products from venture capital to growth private equity and infrastructure. More recently, the company has grown globally and is growing to become the leading Asian investment firm, with its subsidiaries in Japan and Hong Kong, such as IMM Investment Group Japan, ICA Group and IMM Investment Global, and its investments in Japan, China, Vietnam, and United States.

IMM is one of Korea’s strongest venture capital, growth capital and infrastructure companies, having invested in six of Korea’s nationally developed “Unicorn” companies. Its successful portfolios include Coupang, Krafton, Celltrion, Musinsa, EMKH and Hyundai Pusan ​​New Port.

For more information, please visit www.imm.co.kr

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SOURCE Radio-Canada Group

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