SYDNEY – Australia’s Paragon Care Ltd (ASX:PGC) said on Monday it will acquire Indonesia’s Haju Medical for A$70 million, expanding its footprint in Asia’s fast-growing medical aesthetics market.
The deal, through its Singapore subsidiary, includes PT Haju Medical Indonesia and Insightof Co. Ltd. Paragon Care will pay A$30 million upfront, with the remainder tied to performance targets over two years.
Haju Medical, founded in 2014, supplies clinics and dealers in Indonesia with aesthetic products and training, and operates a buying house in South Korea. It reported FY2024 revenue of A$30 million and EBITDA of A$7.7 million.
Paragon Care said the acquisition complements its operations in Thailand and emerging aesthetics businesses in Australia, New Zealand, the Philippines, Vietnam and Japan. Completion is expected by Jan. 30, 2026, subject to regulatory and creditor approvals.
Chief Executive Carmen Riley said Haju’s current CEO Jay Won will remain with the business to ensure a smooth integration.
The acquisition will be funded through existing working capital facilities in New Zealand and Thailand, alongside surplus cash, and is expected to be earnings accretive in FY2026.