# Prenetics becomes first healthcare firm to acquire bitcoin for treasury

CHARLOTTE, N.C. - Prenetics Global Limited (NASDAQ:PRE), a healthcare company with a market capitalization of $97.89 million, has purchased 187.42 bitcoin worth $20 million at an average price of $106,712 per bitcoin, becoming the first healthcare company to establish a bitcoin treasury, according to a company statement released Wednesday.

The health sciences company has appointed Andy Cheung, former COO of cryptocurrency exchange OKEx, to its board of directors to oversee the bitcoin strategy. Prenetics plans to allocate the majority of its balance sheet to bitcoin and aims to become one of the largest healthcare corporate bitcoin holders globally.

"What excites me most is the convergence we’re witnessing between healthcare innovation and blockchain technology," said Danny Yeung, CEO of Prenetics.

The company’s bitcoin initiative includes discussions with financial institutions for a long-term acquisition plan and implementing strategies to maximize returns on its holdings. Prenetics will also begin accepting cryptocurrency payments across its direct-to-consumer platforms, including IM8 Health and CircleDNA.

The bitcoin purchase comes as Prenetics reports a strengthened financial position with approximately $117 million in total liquidity, including $66 million in cash reserves and a debt-free balance sheet. The company, which has demonstrated robust revenue growth of 78.72% in the last twelve months, has increased its full-year 2025 revenue guidance to $80-100 million, with profitability expected in Q4 2025. According to InvestingPro analysis, the company maintains a healthy current ratio of 2.07, indicating strong short-term liquidity management.

Prenetics operates three consumer health brands: IM8 (health supplements), CircleDNA (DNA testing), and Europa (sports nutrition distribution). The company is being advised by Tracy Hoyos Lopez, Chief of Staff for Strategic Initiatives at Kraken, and Raphael Strauch, founder of crypto conference TOKEN2049. InvestingPro data reveals the company maintains a FAIR overall financial health score, with detailed analysis and additional ProTips available to subscribers.

The announcement is based on a press release statement from Prenetics.

In other recent news, Prenetics reported robust first-quarter 2025 financial results, with revenue from continuing operations reaching $17.3 million, marking a year-over-year growth of approximately 170%. This impressive performance was largely driven by the company’s IM8 and Europa business lines, with the IM8 product line contributing around $5.7 million following its commercial launch at the end of the fourth quarter of 2024. Prenetics anticipates a 50% increase in IM8 revenue in the second quarter as it continues to expand its customer base. Additionally, the company has raised its guidance for 2025 and remains focused on divesting its ACT Genomics business while planning to convert its balance sheet to cryptocurrency assets.

Cantor Fitzgerald raised its price target on Prenetics stock to $14.00 from $13.00, maintaining an Overweight rating in light of these developments. The research firm highlighted that Prenetics is trading at 0.6 times enterprise value to estimated 2025 revenue, compared to slower-growing peers trading at 6.1 times. Cantor Fitzgerald expressed confidence in Prenetics’ growth trajectory, particularly after the successful launch of IM8 and the company’s improved financial outlook for the remainder of 2025. These recent developments suggest that Prenetics is well-positioned for strong revenue growth and is working toward breaking even.

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