UBcare. Co., Ltd. (KOSDAQ:A032620) agreed to acquire Cretem Co., Ltd. from Smart Healthcare No. 3 Private Equity Fund, managed by Synaptic Investment for KRW 14.5 billion on May 2, 2023.

As part of transaction, approximately 1.9 million shares will be acqiured. UBcare also acquiring 1 million new stocks for KRW 5 billion. For period ended 2022, Cretem reported total assets of KRW 11 billion, total capital of KRW 4.5 billion, sales of KRW 17 billion and net loss of KRW 457 million.

The transaction is expected to complete on May 31, 2023.