DKSH, the leading Market Expansion Services provider with a focus on Asia, acquires Miraecare, one of the leading medical device distribution and service providers in Korea, thereby strengthening its Korean operations as well as footprint and capabilities of its Business Unit Healthcare in the medical device industry. With this move, DKSH is driving forward the ongoing consolidation of the rapidly growing, yet highly fragmented Market Expansion Services industry.
Media release
Zurich, Switzerland, January 25, 2013 – With the acquisition of Miraecare, DKSH Business Unit Healthcare continues its strategic expansion in the medical devices industry across Asia, thereby reinforcing its position as the leading Market Expansion Services provider for healthcare companies seeking to grow their business in Asia.
With approximately 100 specialists and net sales in 2012 of CHF 31 million, Miraecare is one of the leading medical device distribution and service providers in Korea. The company provides highly specialized distribution and logistics services to both leading multinational medical device manufacturers and best-in-class hospitals in Korea. Miraecare will be fully integrated into DKSH's existing operations in the country and the regional organization of its Business Unit Healthcare. Miraecare's majority shareholder and current CEO, Deok Chul Choi, will support this integration by acting as an advisor to DKSH and participating in various projects on a consultancy basis.
Deok Chul Choi, CEO of Miraecare, comments: “For us, the partnership with DKSH is an ideal succession solution. DKSH's renowned reputation, regional platform and specialized know-how in the field make the company an ideal new owner. Beyond ensuring the successful continuation of what we have created over the past 18 years, DKSH opens up a new world of development opportunities for Miraecare. The people at Miraecare are looking forward to becoming part of DKSH.”
Dr. Joerg Wolle, President & CEO of DKSH, says: "With our recent entry into the Korean healthcare market in 2012, this acquisition provides us with an excellent opportunity to quickly gain critical mass, to improve our market share and to achieve a strategic position in the fast growing Korean medical device market.”
Charles Toomey, Head Business Unit Healthcare at DKSH, adds: “Miraecare's client, product and service portfolio fits very well into DKSH's regional offering, allowing us to expand our network, thereby providing excellent growth opportunities for our Business Unit as well as for our existing business partners in Asia.”
Both parties have agreed not to disclose any financial details of the transaction, which is still subject to customary closing conditions. The closing of the transaction is expected by the end of February.
For further information please contact:
DKSH Holding Ltd. | |
Till Leisner Head, Group Investor & Media Relations Phone +41 44 386 7315 till.leisner@dksh.com | Dominique Nadelhofer Manager, Group Media Relations Phone +41 44 386 7228 dominique.nadelhofer@dksh.com |
About DKSH Group
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term "Market Expansion Services" suggests, DKSH helps other companies and brands to grow their business in new or existing markets.
Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich, with 650 business locations in 35 countries – 630 of them in Asia – and 26,000 specialized staff. In 2011, DKSH generated net sales of CHF 7.3 billion.
DKSH Business Unit Healthcare is the leading Market Expansion Services provider for healthcare companies seeking to grow their business in Asia. The custom-made offering ranges from product feasibility studies and registration to importation, customs clearance, marketing and sales, to physical distribution, invoicing and cash collection. Products available through DKSH Healthcare include ethical pharmaceuticals, consumer health, over-the-counter (OTC), as well as medical devices. With 150 business locations in 13 countries and around 8,900 employees, Business Unit Healthcare serves over 160,000 customers and generated net sales of around CHF 2.9 billion in 2011.