OSR Holdings Signs Definitive Agreement to Acquire Woori IO, a Pioneer in Noninvasive Glucose Monitoring with Potential to Transform Diabetes Care

Rhea-AI Summary

OSR Holdings (NASDAQ: OSRH) executed a definitive agreement to acquire Woori IO (WORIO), a developer of near-infrared spectroscopy (NIRS)-based noninvasive continuous glucose monitoring (NIGM).

WORIO shareholders will receive newly issued OSR Holdings Co., Ltd. (OSRK) shares valued at KRW15bn (~$10.5M); if OSRH reaches $10 per share within 3 years, OSRK shares may convert into OSRH common stock at a 12.96:1 ratio (≈1.09M new shares). WORIO has a partnership with a major global consumer electronics company and plans clinical trials in Seoul to support regional regulatory pathways.

Positive

• Acquisition price of KRW15bn (~$10.5M)
• Potential conversion into ≈1.09M OSRH shares if $10 share price reached within 3 years
• Existing partner with a major global consumer electronics company and non-dilutive funding
• Adds proprietary NIRS-based needle-free continuous glucose monitoring technology

Negative

• Conversion contingency could create up to ≈1.09M new OSRH shares (potential dilution)
• Planned clinical trials and regulatory approvals are required before commercial launch
• Expected benefits depend on successful integration and execution of development plans

Insights

M&A and Corporate Strategy Analyst

Acquisition adds a small but strategic noninvasive glucose-monitoring asset to OSR's healthcare platform; material upside depends on execution and regulatory progress.

OSR acquires Woori IO via a share exchange valued at KRW15bn (about $10.5 million), making WORIO a subsidiary of OSR's Korean affiliate. The deal includes a conditional conversion tied to OSR reaching $10 per share within 3 years, which would convert OSRK equity into roughly 1.09 million OSRH shares at a 12.96:1 ratio. The structure avoids immediate dilution for OSRH common shareholders while giving OSRK equity as consideration.

Key dependencies include successful clinical development, regulatory clearances, and the continuation of the announced partnership with a major consumer electronics company. Integration execution and the ability to commercialize at scale will determine whether the acquisition creates recurring revenue from the global glucose-monitoring market projected at $40+ billion by 2030. Monitor clinical milestones, regulatory filings in Korea, and any concrete commercialization agreements over the next 12–36 months.

Medical Devices and Regulatory Expert

The technology claims noninvasive continuous glucose monitoring using NIRS, but clinical validation and approvals are required before commercial impact.

The core asset is a proprietary near-infrared spectroscopy (NIRS)-based noninvasive glucose-monitoring platform. Clinical development plans center on trials in Korea at a leading Seoul medical center and a partnership with a major consumer electronics company that provided non-dilutive funding and trial participation. These are early-stage, evidence-building steps rather than demonstrated regulatory approval or commercial performance.

Primary risks are clinical accuracy versus existing invasive continuous glucose monitors and the regulatory endpoints required for device approval. Watch for trial start dates, primary endpoint definitions, interim data releases, and any regulatory submissions in Korea within the next 6–24 months. Successful readouts and clear regulatory pathways would materially change the outlook; until then, the announcement is technological promise, not proven clinical impact.

BELLEVUE, Wash., Oct. 14, 2025 /PRNewswire/ -- OSR Holdings, Inc. (NASDAQ: OSRH) today announced that it has executed a definitive agreement to acquire Woori IO Co., Ltd. ("WORIO"), a pioneer in noninvasive glucose monitoring (NIGM), via a comprehensive share exchange. The acquisition reinforces OSRH's dedication to advancing biomedical innovation by adding a potential breakthrough technology for diabetes care, bringing truly needle-free glucose monitoring closer to patients globally and promising a safer, more convenient and accurate alternative to currently available technologies.

Through this acquisition, OSRH aims to strengthen its medical-device platform, diversify its healthcare portfolio, and capture recurring revenue from the global glucose-monitoring market. Strategic highlights of the WORIO acquisition include:

• Technology Leadership — Proprietary near-infrared spectroscopy (NIRS)-based technology enables truly needle-free continuous glucose monitoring, a potential breakthrough in diabetes care.
• Industry Recognition — Established partnership with a major global consumer electronics company to advance clinical development, underscoring an immense potential value in its NIRS-based technology and global growth potential.
• Digital Asset Integration — Creates and expands opportunities to integrate WORIO's noninvasive glucose monitoring with health engagement and reward programs, including emerging and already established utility tokens.
• Value Creation — Strengthens OSRH's innovation platform while opening growth opportunities in a global glucose-monitoring market projected to be worth $40+ billion by 2030, at an attractive valuation that maximizes shareholder value.

Under the definitive agreement, WORIO will become a wholly owned subsidiary of OSRH's Korean affiliate, OSR Holdings Co., Ltd. ("OSRK"). WORIO shareholders will receive newly issued OSRK shares worth KRW15bn (~$10.5 million) in exchange for WORIO shares. If, within 3 years of the share exchange, OSRH reaches at least $10 per share, OSRK shares may be converted into OSRH common stock at a ratio of 12.96:1 or approximately 1.09 million new shares.

"The acquisition of Woori IO delivers significant upside for OSRH shareholders," said Peter Hwang, CEO of OSRH. "Acquired at a valuation of less than $11 million, Woori IO is an undervalued opportunity compared with multi-billion-dollar continuous glucose monitor (CGM) peers like Dexcom. We believe WORIO brings a recognized, high-growth noninvasive glucose-monitoring platform into the OSRH ecosystem. Importantly, there is no immediate dilution for OSRH shareholders, allowing them to participate in the potential upside from a disruptive technology well-positioned to enter the fast-growing global glucose-monitoring market while preserving existing ownership stakes."

"We're thrilled to become an OSR Company, a major milestone for Woori IO" said Sunkie Park, CEO of WORIO. "We have full confidence in OSR Holdings' global expertise to not only help us develop and scale our needle-free glucose monitoring solution for diabetes care but also explore additional use cases and broader digital health initiatives, maximizing the impact of our proprietary NIRS-based technology for patients and healthcare providers worldwide."

WORIO has partnered with a major global consumer electronics company to advance the clinical development of its noninvasive glucose-monitoring devices. The collaboration included non-dilutive funding and participation of the partner's employees in initial proof-of-concept trials. WORIO's regulatory strategy includes launching its clinical trials in Korea at a leading medical center in Seoul, utilizing the center's deep domain expertise to advance studies and generate data that can potentially support approvals for medical devices regionally.

Following the acquisition, WORIO will leverage OSRH's governance, global partnerships and clinical development resources to accelerate product development, enhance supply readiness, and boost commercialization speed and efficiency. "This technology could redefine glucose monitoring for millions living with diabetes," said Dr. Constance Höfer, CSO of OSRH. "By enabling continuous, truly needle-free data collection, it also supports deeper research into metabolic health, cancer recurrence, exercise physiology, and human performance."

Forward-Looking Statements

This press release includes forward-looking statements regarding the expected benefits, synergies, timing, and operations related to this acquisition. Actual results may differ materially due to risks and uncertainties, including regulatory approvals, market conditions, integration execution, and other transaction-related contingencies.

About OSR Holdings, Inc.

OSR Holdings, Inc. (NASDAQ: OSRH) is a global healthcare holding company dedicated to advancing biomedical innovation approaches to health and wellness. Through its subsidiaries, OSRH is engaged in immuno-oncology, regenerative biologics, and medical device technologies. Its vision is to build a portfolio of breakthrough healthcare solutions to improve global health outcomes. Learn more at www.OSR-Holdings.com.

About Woori IO Co., Ltd.

Woori IO is a South Korea-based medical device company developing noninvasive biosensing technologies for glucose monitoring and beyond. Its proprietary NIRS-based system enables accurate, pain-free glucose tracking and is designed for integration into wearables. The company has been recognized by a leading global consumer electronics company's startup program for its innovation in NIGM technology.

Media & Investor Contacts

OSR Holdings, Inc.
Investor Relations
Email: ir@osr-holdings.com

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SOURCE OSR Holdings

FAQ

What did OSR Holdings (OSRH) agree to buy on October 14, 2025?

OSR Holdings agreed to acquire Woori IO via a share exchange, making WORIO a subsidiary of OSR Holdings Co. (OSRK).

How much are WORIO shareholders receiving in the OSR transaction?

WORIO shareholders will receive newly issued OSRK shares worth KRW15bn (~$10.5M).

Will the OSRH acquisition of WORIO dilute existing OSRH shareholders?

There is no immediate OSRH dilution, but OSRK shares may convert into ≈1.09M OSRH shares if OSRH reaches $10 per share within 3 years.

What technology does WORIO bring to OSRH (OSRH)?

WORIO brings a proprietary NIRS-based noninvasive continuous glucose monitoring technology aimed at needle-free glucose measurement.

Does WORIO have industry partners to support development?

Yes; WORIO has an established partnership with a major global consumer electronics company that provided non-dilutive funding and participated in proof-of-concept trials.

What are the next clinical and regulatory steps for WORIO after the acquisition?

WORIO plans clinical trials in Korea at a leading Seoul medical center to generate data that could support regional medical device approvals.