US-based OSR Holdings, Inc., a global healthcare company advancing biomedical and wellness innovation, has signed a term sheet with Woori IO Co., a South Korean medical device company developing next-generation noninvasive glucose monitoring technology. The agreement sets forth certain key terms for a strategic acquisition of WORIO by OSR Holdings' Korean affiliate, OSR Holdings Co. (OSRK)
Under the proposed structure, WORIO will become a wholly owned subsidiary of OSRK. Shareholders of WORIO will receive newly issued shares of OSRK through the share exchange and may be eligible to convert them into OSRH common stock traded on NASDAQ, subject to certain conditions including "$10 per OSRH share" condition.
WORIO's proprietary platform uses near-infrared spectroscopy (NIRS) to measure glucose without needles, sensors, or skin penetration — representing a non invasive alternative to today's continuous glucose monitors (CGMs).
WORIO has completed a proof-of-concept study with the Korea University Hospital (Guro) to validate the accuracy and effectiveness of its prototype devices and the data measured by them, based on which the company plans to enter a larger confirmatory trial to be registered with the Ministry of Food and Drug Safety (MFDS) of Korea for medical device approval pathway. WORIO's non invasive technology is well positioned to be integrated into wearable glucose monitoring devices such as smart watches. WORIO has been selected by Samsung Electronics' innovative startup programme (C-Lab Outside) in Q1 2025.
