Daewoong Pharmaceutical said Wednesday that it bought up 60 percent (31,909) shares of STH E. Solution, a company that develops and sells oral health-related products and solutions, as a subsidiary.
The stake acquisition amount is 500 million won ($445,900).
STH E. Solution, founded in 2010, is an oral health care venture company established by 10 Seoul National University Dental College professors and Seoul Techno Holdings, a tech investment company run by Seoul National University.
The company values the development and dissemination of scientific and practical oral health care methods aimed at enhancing the oral health of the people and advancement of the dental healthcare industry. In 2017, the company recorded a sale of 200 million won through selling its dental products such as toothpaste and toothbrush.
"We plan to provide a total oral health solution through collaboration between healthcare companies and oral health professionals,” Daewoong CEO Yoon Jae-chun said. “We will expand our portfolio into oral care products that are proven with scientific and objective data through differentiated R&D.”
The company also plans to provide customized oral care solutions according to the lifestyle of a person, Yoon added.