Classys Inc. announced it will acquire a 77.5% stake in JL Health Participacoes for 18.27 billion won ($13 million) in cash, marking the South Korean aesthetic device maker’s latest effort to secure distribution channels in key markets.
The Seoul-based company, which is majority-owned by Bain Capital, gains control of Medsystems, Brazil’s largest aesthetic medical equipment distributor with annual sales of approximately 135 billion won ($99 million) and EBITDA of 16.9 billion won ($12.4 million). Medsystems operates a network spanning more than 15,000 hospitals and aesthetic clinics across Brazil.
The transaction includes an option for Classys to acquire the remaining 22.5% stake at a later date. JL Health had previously held exclusive distribution rights for Classys products in South America, meaning the Korean company effectively purchases its own distributor—a move that consolidates margins but also assumes operational risks in an unfamiliar market.
Classys manufactures high-intensity focused ultrasound devices marketed under the Ultraformer brand internationally and Shurink in South Korea. The company reported first-half operating profit of 82.2 billion won, up from 57.7 billion won a year earlier, while revenue climbed to 160.4 billion won from 109.1 billion won.
The acquisition advances Classys toward its goal of reaching $1 billion in annual sales by 2030, though that target would require roughly tripling current revenue levels over the next five years.
