Bionet Co. Ltd. announced that it has received KRW 1.75 billion in funding from Solco Biomedical Co., Ltd.
May 01, 2018
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Bionet Co. Ltd. announced a private placement of 350,000 shares at an issue price of KRW 5,000 per share for gross proceeds of KRW 1,750,000,000 on May 2, 2018. The transaction involved participation from new investor Solco Biomedical Co., Ltd. (KOSDAQ:A043100) for a stake of 16.6% in the company. The shares were issued through third party allotment method. The transaction was approved by the board of directors of the company. The company reported total assets of KRW 30,757,000,000, total liabilities of KRW 14,598,000,000, and net income of KRW 402,000,000 for the year ended December 31, 2017.
Solco Biomedical Co., Ltd. is a Korea-based company mainly engaged in the manufacture of medical equipment and healthcare products. The Company operates its business through two divisions: medical equipment division, which produces implants used in trauma, spine, hip joints and knee joints, and surgical instruments and disposable appliances, such as forceps, scissors, needle holders, hemostatic forceps, intestinal forceps, retractors, hooks, trocars, suction tubes, mouth gags, vein strippers, probes and other products, and healthcare division, which produces household therapy equipment, such as heating mats, water ionizers, air cleaners and others. The Company distributes its products within domestic market and to overseas markets.
SOLCO BIOMEDICAL CO., LTD. 
