Cell Return, a local beauty healthcare firm, said it is diversifying its business portfolio into the medical equipment by acquiring Speclipse, which manufactures devices diagnosing skin cancer.
Cell Return became Speclipse's largest shareholder by acquiring part of the latter’s old stocks and all of its new shares jointly with Lindeman Asia Investment.
Cell Return’s strategy is to jump into a specialized medical device sector by acquiring Speclipse, which has top-level innovation.
The company plans to create synergy between Cell Return, which has led the domestic beauty device market with an LED mask, and Speclipse, which has laser spectroscopy-based diagnostic analysis technology, and become a global beauty healthcare company that incorporates skin science into beauty.
Speclipse was the only Korean company selected by Medical Tech Outlook, a U.S. healthcare outlet, as one of the top 10 dermatological solution developers in 2018.
According to Cell Return, Speclipse's Spectra-Scope conducts an analysis of cancer tissues and healthy tissues in real-time without hurting skin tissues, helping medical staff diagnose skin cancers. The technology applies deep learning algorithms.
Speclipse has also received approval for Spectra-Scope Add-on in Europe and Australia as a medical device and plans to apply to the U.S. Food and Drug Administration in the future.
Subsequent product Spectra-Scope Stand-alone is also undergoing European medical device certification, the company explained.
"The two companies will make the most of their specialty to grow into a global leader by innovating the healthcare sector, ranging from beauty devices to specialized medical devices," Cell Return CEO Kim Il-soo said.