MedicalHealth (02138) announced that it has acquired Active Compass Limit...
Zhitong Finance App News, Medicare (02138) announced that the company has acquired all of the issued share capital of Active Compass Limited and Zhikai International Limited, while Active Compass Limited and Zhikai International Limited held a total of 42.88% of Xinya's issued share capital (i.e. previous acquisitions). On January 4, 2024, the company entered into trading agreements with several other beneficial owners of Xinya to further acquire the total issued share capital of Xinya 12.38%, with a total cost of HK$33.2 million in cash.
After completion, Xinya will hold approximately 55.26% of the company's equity and be recorded as a subsidiary of the company, and Xinya's financial results will be calculated comprehensively in the company's financial statements.
According to reports, Xinya Group is mainly engaged in the following businesses: providing medical laboratory tests to doctors and medical related institutions; and distributing medical laboratory equipment and devices. The New Asia Group commenced operations in 1993.
According to the announcement, the acquisition will allow the company to obtain a controlling interest in Xinya to guide the management and business affairs of Xinya Group, thereby enabling the group to more fully integrate Xinya Group's business, achieve the strategic purpose of expanding the Group's revenue sources, and enter the Hong Kong medical laboratory testing market, which has huge room for growth.