KaKao

·  Market Focus: Initial efforts will target the domestic market, with plans to expand collaborations to international markets including the U.S., the Middle East, and Japan.

·  Strategic Synergy: The partnership will combine Dexcom’s CGM technology with Kakao Healthcare’s software and AI expertise to generate meaningful synergies.

 

[June 22, 2023] Kakao Healthcare (CEO Hwang Hee) announced today that it has signed a Global Collaboration Agreement at Dexcom’s headquarters in San Diego, U.S., to jointly advance continuous glucose monitoring (CGM)-based glucose management services worldwide.

The agreement follows a memorandum of understanding (MOU) signed by the two companies in Boston in April to explore global business opportunities. Under the new agreement, the initial focus will be on the domestic market, with plans to expand to the U.S., the Middle East, Japan, and other regions. The collaboration aims to combine glucose data with lifestyle information to deliver hyper-personalized digital glucose management services on a global scale.

The partnership will leverage Kakao Healthcare’s software and AI capabilities together with Dexcom’s CGM hardware expertise to provide innovative glucose management solutions. The companies also agreed to supply a dashboard system for healthcare professionals, supporting efficient diabetes patient management. This initiative is expected not only to improve quality of life for diabetes patients and individuals needing glucose monitoring worldwide, but also to reduce socioeconomic costs.

Kakao Healthcare plans to launch its digital glucose management service in South Korea in Q4 2023, integrating Dexcom’s next-generation CGM devices, the G7 and G6. Starting in 2024, the companies will expand the service globally.

Dexcom, a global leader in real-time continuous glucose monitoring (RT-CGM) for diabetes, has a market capitalization approaching 65 trillion KRW. Its G7 device offers a shorter enzyme activation period and high accuracy, and has been submitted for regulatory approval by the Korean Ministry of Food and Drug Safety.

Hwang Hee, CEO of Kakao Healthcare, stated,
"Through this agreement with Dexcom, we can launch innovative CGM-based glucose management services domestically while also pursuing global expansion. As part of the Kakao group, we will continue to contribute to public health in Korea, create social value, and drive the global advancement of Korean healthtech."