Carelabs, a South Korea-based digital beauty and healthcare company, has acquired 53 per cent of Eunogo, a local online beauty and wellness concierge startup with offices in Singapore and Indonesia, for an undisclosed amount.
The deal will enable Carelabs to expand its business in Southeast Asia using Eunogo’s beauty and wellness platform. On the other hand, Eunogo will get access to accumulated clinic database and sales network from Carelabs, which will be used to improve quality assurance and customer experience.
Founded in 2015, Eunogo runs a premium virtual assistant service for arranging aesthetic procedures and tours in Korea. The company shares its connections and expertise with foreigners who wish to visit Korea for plastic surgery and aesthetical touchups, providing access to top-tier doctors and VIP care with medical translator, private transport and concierge services.
South Korea’s US$10-billion cosmetic surgery market is composed of over 2,000 plastic surgery clinics which, according to Eunogo, makes it difficult for foreigners to decide which doctor to choose. Utilising Korean government’s open medical data, Eunogo uses a 40 screening criteria to pre-select the right medical partners and check “behind-the- scene” reputation of doctors. This includes the doctors which celebrities visited, or if clinics covered up accidents or complaints to curate the right surgeon for Eunogo members.
Eunogo’s clientele includes celebrities and socialites in Indonesia and Singapore.
Kim Dong Soo, CEO of Carelabs, said: “While the number of inbound medical tourists to Korea has been continuously increasing, there hasn’t been a leading platform that understands and caters to the customers’ pain points. The plan is to lead the growth of the Korean medical tourism industry through this acquisition and Carelabs will collaborate with Eunogo as the No 1. Beauty platform company in Korea.”
“This takes us to the next level of seamless customer experience and greater brand reach,” added Joy Kang, Co-founder and CEO of Eunogo. The company plans to add more medical destinations beyond Korea, which includes Singapore and Thailand.
In November 2016, Eunogo raised a “six-digit figure” in a seed funding round, led by serial investor Peter Tan, Founder of the Peter Tan Organization in Singapore.