CBC welcomes former Allergan CEO Brent Saunders to Hugel’s board as executive chairman
- Saunders brings decades of healthcare leadership experience and plans to propel Korea’s #1 medical aesthetics company into a global industry leader
- Saunders will serve as chairman of Hugel’s board of directors from June 29, 2022
- Saunders’ appointment is an example of CBC Group continuing to strengthen its portfolio ecosystem with the introduction of senior executives and operators
SINGAPORE, May 20, 2022 /PRNewswire/ — Hugel, Inc. (“Hugel”, 145020.KQ), Korea’s leading botulinum toxin and hyaluronic acid filler, announced the appointment of Brent Saunders to its Board of Directors, effective immediately prior to his election as Executive Chairman on June 29, 2022. The news comes on the heels of the closing of the Hugel Inc. transaction by a consortium led by CBC Group (“CBC”), from Asia the largest investment company dedicated to healthcare.
Mr. Saunders brings to Hugel over 25 years of expertise in the pharmaceutical and medical aesthetic industries and has facilitated over 300 billion dollars in healthcare and life sciences transactions over the course of his career. Mr. Saunders previously served as Chairman, President and Chief Executive Officer of Allergan Aesthetics until its acquisition in 2020 by AbbVie in a transaction valued at approximately $63 billion. Allergan Aesthetics is the maker of Botox, the world’s top-selling botulinum toxin brand, as well as the maker of the first Judvederm dermal filler. Earlier in his career, Mr. Saunders served as President of the Global Consumer Healthcare Division of Schering-Plough Corporation, where he facilitated the company’s acquisition of Organon Biosciences and the merger between Schering-Plough and Merck. Mr. Saunders also served as President and CEO of Forest Laboratories from 2013 to 2014, and President and CEO of Bausch + Lomb Incorporated from 2010 to 2013. He is currently CEO of Vesper Healthcare Acquisition Corp.
Brent Saunders said, “I am thrilled to join the world-class team at Hugel and CBC to continue building a global leader in medical aesthetics. With their commitment to operational excellence, customer service and R&D, our future is very bright.
CBC is proud to have a leader who shares the company’s vision to expand access to healthcare services by improving efficiency to meet unmet medical needs around the world. “As the largest healthcare-focused investment firm in Asia, CBC is an unwavering investor-operator and serial entrepreneur, committed to connecting our portfolios with top industry veterans to accelerate sustainable growth. said Fu Wei, CEO of CBC. “For decades, Brent has been one of the industry’s most respected visionaries, and he has an exceptional track record of taking life sciences companies to the next level. His deep understanding of the industry of medical aesthetics will further accelerate Hugel’s expansion beyond Asian markets.”
Son Ji-hoon, CEO of Hugel, said: “Brent Saunders is an unparalleled leader in the global medical aesthetics industry, and has achieved outstanding results in his previous roles, including as head of Allergan. With his expertise and global experience, we plan to become a leading company in the global medical aesthetics industry, backed by our new investors and Board of Directors. I look forward to this next phase of our development and to providing more medical aesthetic solutions to consumers and practitioners worldwide. »
Hugel obtained its toxin license in China end of 2020, and rapidly gained 10% market share in its first year since its launch in the country. Hugel also obtained Marketing Authorization from the European HMA in January 2022in addition to national level approvals from nine European countries, including the UK, France, Germany, Italy, Austria, Portugal, Ireland, Netherlandsand Romania. It is in the final stages of US FDA approval, which it could obtain by mid-2023, opening up a tremendous opportunity in the world’s largest medical aesthetics market.
CBC enables sustainable and efficient growth of its portfolio companies throughout their life cycle through a range of strategies including buyout, venture capital, private credit and infrastructure solutions. Recent major milestones among its portfolio companies include the success $67 million Series A financing of Bostonbased at Ensem Therapeutics, a biotechnology company focused on high-value, hard-to-treat oncology targets, as well as a $140 million funding round for RVAC Medicines, which will support the launch of a new R&D center and manufacturing sites in Singapore to develop new mRNA vaccines.
About Radio Canada
Radio Canada Group, from Asia investment company dedicated to health, is committed to creating value and integrating global resources. Partnering with the world’s top entrepreneurs and scientists, its unique investor-operator approach has enabled leading global healthcare companies to expand access to affordable medical care, catalyze innovation and improve health. effectiveness in meeting unmet medical needs worldwide. Founded in 2014, CBC has a leading team of investment, industry and portfolio management professionals headquartered in Singapore with offices at Shanghai, beijing, hong kong and New Yorkand presences in Boston, San Diego, San Franciscoand Tokyo. CBC is focused on platform building, buyout, credit and growth-driven opportunities in several key areas of the healthcare industry, including pharmaceuticals and biotechnology, medical technology and healthcare services. For more information, please visit www.cbridgecap.com.
SOURCE Radio-Canada Group