Ruha Private Equity to acquire 23.28% of LabGenomics for KRW 184bn
- Deal value
- $127m
- Stake
- 23.28%
- Implied 100%
- $545m
- Revenue
- $140m
- Op. income
- $72m
- Multiples
- EQV/EBIT 7.6xPSR 3.9x
Deal value ÷ stake (structure unconfirmed)
2021 연결 · DART-verified
2021 연결 · DART-verified
On implied equity value
DART 20220401002812
- Target
- LabGenomics · Molecular diagnostics
- Buyer
- Ruha Private Equity · FI
- Seller
- CEO Jin Seung-hyun (old shares) plus new shares/CB
- Structure
- —
- Announced
- Aug 19, 2022
- Closed
- —
- Stage
- Signed
Target
LabGenomics is a molecular diagnostics company with central-lab operating expertise, pursuing entry into the US diagnostics market through acquisition of CLIA-certified laboratories.
Deal rationale
A Ruha PE official said LabGenomics' central-lab know-how would create synergies with its CLIA-lab acquisition strategy and that CLIA acquisitions would bring stable earnings and a valuation premium. The original structure (KRW 90bn of CEO Jin Seung-hyun's shares + c.KRW 34bn new shares + KRW 60bn CB, total KRW 184bn for 23.28%) was amended on 2023-01-12 to KRW 60bn old shares (9%), KRW 22.7bn new shares and KRW 40bn CB (total KRW 122.6bn, 26% plus proxy over a further 4%). Ruha said the amendment would remove uncertainty over the change of control and would not affect US expansion.
| Revenue | $140m |
| Operating income | $72m |
| EBITDA | — |
| Net income | — |
2021 연결 · DART-verified · 20220401002812
Press coverage
- 바이오스펙테이터 (2022-08-19): “주식 431만343주를 루하프라이빗에쿼티에 900억원에 모두 양도했다.”
- 아시아경제 (2023-01-13): “경영권 양수도 계약을 1226억원 규모로 변경한다고 정정 공시했다”
This is a data entry summarising filings and press reports. Please check the original sources for the figures.