SK Telecom (SKT) established a digital healthcare joint venture with a Korean private equity company, with the aim of driving innovations through the use of advanced ICT.
The operator created Invites Healthcare by spinning off an existing business unit focused on the field and partnering with Newlake Alliance Management, a company SKT stated brings extensive experience in the sector.
Korea-based SCL Healthcare is also due to join the venture: after this, SKT said the new business will be valued at about KRW100 billion ($83.9 million), with Newlake Alliance the largest shareholder and the operator the second-largest with a 43.4 per cent stake.
Kim Joon-yun, who served as VP and head of SKT’s health business will head up the new venture.
SKT said the business will conduct “business activities in both domestic and overseas markets” and develop ICT-based disease management services to help people with chronic illnesses control their conditions.
It will also take over and operate Coach-coach Diabetes, a digital management platform developed by SKT.
International expansion will initially involve Invites Healthcare taking over SKT’s global healthcare partnerships in the Middle East and Asia.Subscribe to our daily newsletter Back