SINGAPORE, May 7, 2024/PRNewswire/ -- EUDA Health Holdings Limited (“EUDA” or the “Company”) (NASDAQ: EUDA), a health technology company headquartered in Singapore that operates Southeast Asia's first digital healthcare system, today announced that it will acquire CK Health Plus Sdn Bhd (“CK Health”), a direct seller of comprehensive health consumer products in Malaysia.
Under the terms of the acquisition agreement, EUDA agreed to acquire all of CK Health's issued share capital for a total consideration of $15 million through the company's newly issued 10 million common shares. The acquisition is expected to close on May 8, 2024, subject to customary closing conditions.
Established in Malaysia in 2023, CK Health is a direct seller of comprehensive health consumer products through its online platform and membership network. With advanced technology, CK Health products use non-invasive therapies to provide comprehensive healthcare to the public. CK Health has the exclusive distribution rights of Guangzhou BTVIS Health Technology Co., Ltd. (“BTVIS”) in Malaysia, as well as the exclusive distribution rights for collagen drinks, supplements and skincare products from Yan Ruyu Pharmaceutical Technology Co., Ltd. (“Yan Ruyu”) in Malaysia, Vietnam and Indonesia.
To maximize business synergy and fully seize the opportunities brought by the aging population in Southeast Asia, EUDA will integrate CK Health's comprehensive health consumer products into the complementary products and service portfolio provided by its proprietary healthcare solutions platform. Through CK Health, EUDA will license the sale of bioenergy capsules to partners such as spas, beauty salons, and confinement centers, and will distribute Yan Ruyu products through direct sales, e-commerce platforms, and retail stores.
Bioenergy modules represent a fusion of neurobiology and genetics, and they use resonance frequencies associated with an individual's DNA profile to provide treatments for pain management and motor function improvement. Each bioenergy capsule provides real-time biofeedback and adjusts treatments based on the patient's neurological responses and genetic tendencies.
Yan Ruyu's oligopeptide technology is used to produce collagen drinks, supplements, and skincare products. Studies have found that oligopeptides can improve digestion, reduce inflammation, strengthen the immune system, and help with weight loss. It can also help lower cholesterol levels and improve skin health.
Dr. Chen Weiwen, founder and CEO of EUDA, said: “We are delighted to announce this acquisition and are convinced that the synergy it brings will create significant growth opportunities for the company to grow across the region. CK Health's comprehensive health consumer product line will directly complement and significantly enhance our products and services, further diversifying the company's future revenue streams. At the same time, CK Health products are more convenient than some traditional treatments. These traditional treatments are often risky, time-consuming and labor-intensive, making CK Health products an ideal choice for many consumers seeking shorter treatment courses.”
“The starting point of this acquisition is to address chronic diseases with non-invasive treatments. New research shows that one-third of adults suffer from multiple chronic diseases. In Southeast Asia alone, the six ASEAN countries are expected to spend $740 billion on healthcare by 2025, far higher than the current $420 billion. CK Health's comprehensive health products provide us with direct access to this market, which will create long-term sustainable growth benefits for the company.”
regardingEUDA Health Holdings Limited
EUDA Health Holdings Limited is a health technology company headquartered in Singapore that operates the first digital healthcare system in Southeast Asia. It is committed to making healthcare services affordable, convenient, and providing patients with better treatment results through personalized healthcare services to improve the patient experience. The company's proprietary unified artificial intelligence platform can quickly assess patients' medical history, classify conditions, digitally connect patients and clinicians, and predict optimal treatment outcomes. EUDA's comprehensive services support patients at all stages of care, including health and prevention, emergency care and emergency care, management of pre-existing conditions, and follow-up care services.
Important information for investors and shareholders
This announcement relates to transactions proposed by EUDA and does not constitute an offer to sell or exchange any securities, nor a solicitation of offers to buy or exchange any securities. Such an offer, sale, or exchange is unlawful in any jurisdiction, and no securities may be sold until registration or qualification under that jurisdiction's securities laws.
Forward-looking statements
Some of the statements contained in this press release are not historical facts, but forward-looking statements. Forward-looking statements generally include words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “should,” “plan,” “future,” “look forward,” etc., and similar expressions that predict or indicate future events or trends, or even if these words are missing from certain non-historical factual statements, this does not mean that the statement is not a forward-looking statement. These forward-looking statements include, but are not limited to, statements relating to estimates and predictions of performance indicators and predictions of market opportunities. These statements are based on various assumptions (whether stated in this press release or not) and current expectations of EUDA management, rather than predictions of actual performance. These forward-looking statements are for illustrative purposes only, have no intention of acting, and should not be considered by any investor as a guarantee, prediction, or final statement of fact and probability. Actual events and situations are difficult or impossible to predict, and will differ from hypothetical circumstances. Many factual events and circumstances are beyond EUDA's control, and some significant factors that may cause actual results to differ materially from any forward-looking statements may include changes in domestic and foreign business, market, financial, political, and legal conditions.
These forward-looking statements are subject to a range of risks and uncertainties. These risks and uncertainties include, but are not limited to, the factors described in the “Risk Factors” section of the annual report submitted to the US Securities and Exchange Commission (SEC) on June 28, 2023. Significant factors that may affect actual results include: the party concerned's inability to successfully or promptly complete the transaction, including failure to obtain any necessary regulatory approval, delay, or being subject to unexpected conditions that could adversely affect the EUDA or the expected return of the transaction (if not approved); failure to achieve the expected benefits of the transaction; issues discovered by EUDA in completing due diligence on other interested parties; costs associated with the transaction; failure to meet the conditions to complete the transaction; and the outcome of any legal action that may be initiated against the EUDA in connection with the transaction. Significant factors that may cause EUDA's actual results to differ materially from those discussed in the forward-looking statement include: EUDA's ability to manage business growth; EUDA's ability to execute its business plans; EUDA's estimate of the market size of its products and services; market acceptance rate and degree of acceptance of EUDA products and services; EUDA's ability to determine and consolidate acquisitions; potential lawsuits involving the validity or enforceability of EUDA or intellectual property rights; and general economic and market conditions affecting demand for EUDA products and services.
If any of these risks materialize, or if our assumptions prove false, actual results may differ materially from those implied in these forward-looking statements. Additionally, other risks that EUDA may currently know or consider unimportant may cause actual results to differ from those contained in the forward-looking statements. Furthermore, the forward-looking statement reflects EUDA's current expectations, plans, predictions and views on future events as of the date of publication of this statement. Nothing in this press release shall be construed as a guarantee that the forward-looking statements described herein will be achieved or that any results contemplated in the forward-looking statements will be achieved. You should not rely too much on the forward-looking statements in this press release, which are effective only on the date they are posted, and are solely subject to the cautionary statements in this statement and the risk factors described above. The EUDA anticipates that subsequent events and developments will lead to changes in its assessment. However, while EUDA may choose to update these forward-looking statements at some point in the future, it clearly states that it has no obligation to do so unless required by law. These forward-looking statements should not be considered EUDA's assessment after the date of publication of this press release. Therefore, forward-looking statements should not be overly relied upon.
Media contacts:
Christensen Advisory
Roger Hu Changran
852.2232.3968
roger.hu@christensencomms.com