[Edaily Reporter KIM SUNG-JIN ] #Kolmar Korea Holdings is drawing attention as it moves to acquire #Blue M Tech, a pharmaceutical distribution platform company. This move is interpreted as an effort by the Kolmar Group—which specializes in cosmetics Original Design Manufacturing (ODM)—to expand its business scope beyond pharmaceutical manufacturing into the distribution sector. In particular, the company is expected to strengthen its marketing and business strategies through a partnership with Blue M-Tech, which possesses an artificial intelligence (AI)-based digital distribution network. Some analysts suggest this is a preemptive move to respond to the anticipated growth in the pharmaceutical delivery market ahead of the expansion of telemedicine services scheduled to take effect this December.

Kolmar Holdings Participates in Blue M-Tech Acquisition as Strategic Investor (

SI) According to the pharmaceutical and biotech industry on the 23rd

,

Kolmar Korea Holdings is proceeding with

the acquisition of

Blue M-Tech in partnership with KDB Investment. It is reported that the structure effectively secures management control by acquiring a combination of existing and new shares. Kolmar Korea Holdings is understood to be participating as a strategic investor (SI).

Blue M-Tech is a pharmaceutical e-commerce company established in 2015. Initially focused primarily on pharmaceutical wholesale, the company began to grow after shifting its business model to online distribution upon recognizing the limitations of its previous growth trajectory.

Blue M-Tech’s primary target market is small-scale domestic clinics, and its business objective is to alleviate the inconvenience clinics face when dealing with numerous pharmaceutical wholesalers. In 2018, Blue M-Tech launched BluePharm Korea, the pharmaceutical distribution industry’s first e-commerce direct-trade platform. By creating an online pharmaceutical wholesale platform, the company established a channel where suppliers and buyers could transact directly. According to the Food and Drug Statistics Yearbook, as of 2024, there were over 5,000 pharmaceutical wholesalers in South Korea; the company claims that this online platform has simplified the distribution structure and made it more transparent.

Based on this strategy, the company has grown rapidly. Revenue, which stood at approximately 49 billion won in 2021, surged to 185.9 billion won last year. As of the third quarter of last year, Blue M-Tech had 29,900 member hospitals and clinics, and the number of suppliers providing products to Blue M-Tech exceeded 700.

Anticipated Synergies in Distribution, Data, and Marketing

The expansion of the cosmetics and pharmaceutical value chains is cited as the reason Korea Kolmar Holdings moved to acquire Blue M-Tech. Since Blue M-Tech handles not only pharmaceuticals but also beauty products such as fillers, botulinum toxins, cosmetics, and aesthetic devices, it is expected to complement the business portfolio of the Kolmar Group, which focuses on cosmetics.

In particular, direct synergies are expected with #HK Innoen, a Kolmar Group affiliate that manufactures pharmaceuticals. HK Innoen sells prescription drugs such as K-CAB—a P-CAB class new drug containing the active ingredient tegoprazan for the treatment of gastroesophageal reflux disease—as well as Robazet and Epocain. As of the end of the first half of this year, K-CAB held a 15% share of the domestic market for peptic ulcer treatments, demonstrating strong market dominance. From the Kolmar Group’s perspective, this acquisition will enable it to safely and quickly supply its core pharmaceutical products through a newly secured distribution network.

An industry insider explained, “Acquiring a pharmaceutical distributor is expected to yield significant benefits, as it allows manufacturers to directly manage the safety and efficiency of deliveries.”

Above all, the ability to establish a digital network immediately is cited as a key advantage. While the traditional pharmaceutical industry relied primarily on sales representatives visiting hospitals and clinics in person to promote products and encourage prescriptions, Blue M-Tech enables the company to establish online connections with numerous hospitals and clinics and manage the entire process from drug orders to distribution.

A strengthening of marketing strategies through this digital network is also anticipated. Another industry insider noted, “The key is the ability to accumulate data on which hospitals and clinics in specific regions order which drugs and in what quantities, which products they switch to, and when demand for certain drugs increases,” adding, “This data can serve as a crucial indicator not only for sales but also for marketing and new drug development.”

In fact, Blue M-Tech is already improving operational efficiency through AI-based demand forecasting and inventory optimization. In addition, the company is strengthening its online marketing efforts through webinars and academic information for members, as well as live commerce.

Institutionalization of

Telemedicine in December… Preparing for an Expanding Medication Delivery Market?

Some analysts suggest this is a strategic move to proactively prepare for the amendment to the Medical Service Act, scheduled to take effect this December. The core of this amendment is the expansion of telemedicine, and there is a possibility that the delivery of medications will also expand as a result. Until now, the online sale and delivery of medications have been prohibited in South Korea under the Pharmacists Act.

If telemedicine expands and patients who receive telemedicine consultations are permitted to purchase and have medications delivered online, the importance of online pharmaceutical channels is expected to rise significantly. Telemedicine is already growing rapidly. According to DoctorNow, a major domestic telemedicine platform, the number of telemedicine consultations in the first half of this year reached approximately 1.05 million, a staggering 65% increase compared to the same period last year.

Currently, medication delivery is limited to residents of islands and remote areas who have received telemedicine consultations, people with mobility issues, and patients with rare diseases. The government has announced a policy to expand medication delivery to all patients receiving telemedicine consultations.

Of course, it remains to be seen whether this expansion of medication delivery will actually materialize. The Korean Pharmaceutical Association strongly opposes the move, citing concerns about adverse effects—such as illegal medication delivery, prescription abuse, and medication spoilage—should medication delivery become widespread. On the 20th, pharmacists and pharmacy students from across the country held a rally in Gwanghwamun to protest the expansion of telemedicine and medication delivery.

An industry insider cautiously predicted, “Although Blue M-Tech is a pharmaceutical wholesale platform, if the expansion of medication delivery becomes a reality, it could lay the groundwork for the company to expand into the pharmaceutical retail sector as well.”