Paragon Care has announced its agreement to acquire Haju Medical, an Indonesian aesthetics services provider, for $70 million. This acquisition marks a significant step in Paragon Care’s strategy to accelerate its expansion throughout Asia. Haju Medical, currently owned by a South Korean parent company, reported $30 million in revenue and $7.7 million in EBITDA in 2024. The company is expected to be earnings-accretive by FY26. Paragon Care provides medical equipment, devices, and consumables to the healthcare sector. Its aim is to improve patient and practitioner outcomes through innovative technology.
Under the terms of the deal, Paragon Care will pay $30 million upon completion of the acquisition. The remaining balance of $40 million will be deferred over two years, with payments tied to the achievement of specific EBITDA targets by Haju Medical. This structure ensures alignment between Paragon Care’s investment and Haju Medical’s future performance.
The acquisition will be funded through Paragon Care’s recently arranged working-capital facilities in New Zealand and Thailand, in addition to the company’s existing cash reserves. Completion of the acquisition is anticipated by January 30, subject to customary merger clearance in South Korea and the receipt of other necessary regulatory approvals.
Paragon Care highlighted that Haju Medical’s operations will strengthen its aesthetics footprint across the Asia-Pacific region. The acquisition complements Paragon Care’s existing operations in Thailand, Australia, New Zealand, the Philippines, Vietnam, and Japan. Haju’s chief executive, Jay Won, will remain with the company to support integration and growth, ensuring a smooth transition and continuity in operations.
