S Korea’s e-healthcare firm Carelabs acquires 53% stake in Eunogo

Photo by Hush Naidoo on Unsplash

Carelabs, a South Korea-based digital health payment solutions and innovative e-healthcare products company, has acquired 53 per cent stake in Eunogo, a local premium medical beauty travel experience provider with offices in Singapore and Indonesia, according to a report on e27.

Financial terms of the transaction were not disclosed.

The acquisition will enable Carelabs to expand its business in Southeast Asia through Eunogo’s vast beauty and wellness platform. Meanwhile, Eunogo will get access to the clinic database and sales network of Carelabs, which will be used to improve quality assurance and customer experience.

Founded in 2015, Eunogo is a medical travel facilitator in Korea. The firm provides Eunogo.com, a virtual coordinator for premium medical beauty travel experience in Korea. Eunogo is a top government-approved medical trip facilitator and affiliated with over 80 surgeons and hospitals in Korea.

Eunogo’s clientele includes celebrities and socialites in Indonesia and Singapore.

“While the number of inbound medical tourists to Korea has been continuously increasing, there hasn’t been a leading platform that understands and caters to the customers’ pain points. The plan is to lead the growth of the Korean medical tourism industry through this acquisition and Carelabs will collaborate with Eunogo as the No 1. Beauty platform company in Korea,” said Kim Dong Soo, CEO of Carelabs.

“This takes us to the next level of seamless customer experience and greater brand reach,” added Joy Kang, Co-founder and CEO of Eunogo.

The company plans to expand to medical destinations beyond Korea, which includes Singapore and Thailand.

In 2016, Eunogo reportedly raised a “six-digit figure” in a seed funding round, led by serial investor Peter Tan, who is Founder at the Peter Tan Organization in Singapore.