BaroPharm Approved for KOSDAQ Preliminary Review... Secures 90% of Pharmacies as a 7 Trillion Won Transaction Platform

BaroPharm, a comprehensive pharmacy platform company, has passed the preliminary review for listing on KOSDAQ, marking the beginning of its full-scale initial public offering (IPO) process. Leveraging its network—covering over 90% of pharmacies nationwide—and a cumulative transaction volume of 7 trillion won, the company aims to boost its growth by expanding beyond its order integration services into fields such as beauty, branded products, data, and artificial intelligence (AI).

On August 13, BaroPharm announced that it had received approval for its KOSDAQ preliminary listing review from the Korea Exchange. The lead underwriter is Mirae Asset Securities.

Founded in 2019, BaroPharm was established by CEO Kim Seulki, a practicing pharmacist, to address the inconveniences in ordering pharmaceuticals and managing inventory experienced in pharmacies. Previously, pharmacists had to individually check inventories and prices with multiple pharmaceutical wholesalers before placing orders, a cumbersome process. BaroPharm developed an integrated ordering solution to handle this on a single platform.

The service, which enables pharmacies to compare inventories and prices of various wholesalers and place orders simultaneously, has quickly gained traction among pharmacists. Currently, over 90% of pharmacies nationwide are registered with BaroPharm, and cumulative transaction volume has reached 7 trillion won. The reorder rate stands at 86%.

Based on its established pharmacy network, BaroPharm is also diversifying its revenue model. While focusing on its core integrated pharmaceutical ordering service, the company is expanding into areas such as BaroPharm Mall, targeted advertising, BMS direct purchasing, and private label products, thereby increasing its share in higher value-added business segments.

The company has also experienced significant growth. BaroPharm's revenue jumped from 300 million won in 2021 to 96.7 billion won in 2025. The company plans to move beyond merely increasing order volumes, aiming to build a growth foundation centered on profitability through the expansion of new businesses in commerce, advertising, data, and its own branded products.

Looking ahead, BaroPharm plans to further extend its business scope by utilizing its pharmacy network and accumulated pharmaceutical data. The company intends to build 'Pharmacy AX', referring to the digital transformation of pharmacy work, and to enter new business domains such as nurturing K-beauty brands, strengthening its own brand, developing AI-based healthcare services, and expanding into healthcare infrastructure like cloud computing and data.

Funds secured through the IPO will be used to drive business expansion. BaroPharm plans to advance its AI technology, support overseas expansion of its brands, and increase production capacity to enhance competitiveness.

Through these initiatives, BaroPharm aims to establish a business structure that connects its pharmaceutical order integration service with brand commerce and healthcare infrastructure, transforming its existing pharmacy platform into a comprehensive healthcare platform.

Kim Seulki, CEO of BaroPharm, stated, "Passing this preliminary listing review demonstrates our competitiveness and growth potential, developed by building a nationwide pharmacy network and addressing real-world challenges faced at pharmacies. With the KOSDAQ listing, we plan to expand our business domains to become a healthcare platform company that connects pharmaceuticals, beauty, data, and AI, thereby supporting sustainable growth."

BaroPharm is pushing for a KOSDAQ listing by leveraging its network of more than 90% of pharmacies nationwide and a cumulative transaction base of 7 trillion won, aiming to secure new growth drivers by expanding beyond integrated pharmaceutical ordering into K-beauty, proprietary brands, AI, and healthcare infrastructure.

This content was produced with the assistance of AI translation services.