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SK Telecom establishes digital health care joint venture with local PEF


SK Telecom Co., South Korea's leading mobile carrier, said Wednesday it has established a digital health care joint venture with a local private equity fund (PEF) after spinning off its health care business unit.

Invites Healthcare Co. will aim to drive growth of the health care industry using its advanced information and communication technology (ICT), according to SK Telecom.

Newlake Alliance Management, a local private equity firm, will serve as the largest shareholder of the joint venture, while SK Telecom will be the second-largest share holder with a 43.4 percent stake, the company said.

SK Telecom said SCL Healthcare Group, a local health care giant, will also take part in the joint venture.

SK Telecom said the joint venture will focus on developing various ICT-based solutions for the health care market, including chronic disease management services.

Invites Healthcare will seek opportunities in overseas health care markets through partnerships and collaborations, according to SK Telecom, adding that the joint venture will take over SK Telecom's global health care partnerships in the Middle East and Asia. (Yonhap)