DongKoo Bio & Pharma to enter Philippine healthcare market

South Korea’s DongKoo Bio & Pharma Co. on Tuesday said it signed a memorandum of understanding with the Philippine healthcare group Adization Inc. to enter the Southeast Asian country's healthcare market.

Under the deal, DongKoo will open a dermatology hospital and launch the cosmetics brand Cell Bloom in the Philippines, while Adization will supply DongKoo products to hospitals there.

Adization's business lines include education platforms for medical technology and distribution to hospitals and clinics in the Philippines, supplying medical devices and consumables and cosmetics.

Expanding its healthcare operations in Southeast Asia, DongKoo in February agreed to set up a joint venture with LVMC Holdings of Laos that will build a generics plant, form a production system and distribute medicine.

“Starting with the setup of our base in Laos, a foothold in Southeast Asia’s healthcare sector, we secured a second base in the Philippines,” company CEO Cho Yong-joon said. “We will strive to create a total healthcare ecosystem covering prevention, diagnosis, treatment and management.”

Write to In-Hyuk Park at hyuk@hankyung.com