Onheal

About Onheal

Onheal Co., Ltd. is a South Korean comprehensive pet healthcare company established in May 2021. The firm was co-founded by CEO Kim Dohyeong, a veterinarian and serial entrepreneur, and CEO Yoo Jeong-woo, a marketing specialist with a background at CJ CheilJedang and Hanmi Pharmaceutical. Onheal originated as a healthcare brand within Notus, a company founded by Kim Dohyeong that he successfully listed on the KOSDAQ exchange before it was acquired. The founders' combined expertise in veterinary science and pharmaceutical marketing underpins the company's strategy.The company's business model integrates several key areas. A primary operation is the distribution of veterinary medicines and medical devices, where Onheal has established a significant footprint, supplying products to over half of the animal hospitals in South Korea. Beyond distribution, the firm is actively engaged in the research and development of new animal health products. Notable developments include 'Planicare', a certified medical device for pet skincare, and collaborations with partners like Kwangdong Pharmaceutical to launch nutritional supplements. The company is also co-developing treatments for periodontal disease with MXBio.Onheal also operates a direct-to-consumer (D2C) business through its proprietary brand, PETHOMTH, which offers a range of pet care items. To further integrate the market, the company is developing digital platforms, including 'VetUs', a prescription diet shopping service for veterinary clinics, and a B2B closed mall for professionals. In a strategic expansion into pet technology, Onheal acquired 'Peulsong', a startup known for its IoT-based cat litter box.The company has demonstrated strong financial performance and investor confidence. It reported revenues of 28.8 billion KRW in 2022, a substantial increase from 9.7 billion KRW in 2021. Onheal successfully raised approximately 30 billion KRW through Series A and B funding rounds in 2023, earmarking the capital for platform development and new product R&D.