Aoyuan Health Life Group Co., Ltd. (03662) announced that its indirect wholly-owned subsidiary, Asia Great Health Industry Research Institute Co., Ltd., plans to acquire a 70% stake in Wanyong Development Co., Ltd. (hereinafter referred to as "Wanyong Development") for 78.7136 million yuan.
Wanyong Development, which has an unaudited comprehensive net asset value of about 114 million yuan on September 30, 2021, holds a stake in an artificial intelligence-driven health care company through an investment fund issued by a wholly-owned subsidiary. The healthcare company, with roots in China and the United States, focuses on commercializing early cancer testing through DNA methylation.
Aoyuan Health is expected to reap long-term returns by acquiring a 70% stake in Wanyong Development, adding to the health layout of artificial intelligence, and by integrating its high-quality resources with commercialized cancer testing projects that are the subject of mergers and acquisitions.
"while focusing on the development of the core business of property management services and business operation services, Olympian Health has been evaluating the performance and prospects of the large health industry and constantly exploring other business opportunities in order to formulate an overall business strategy and maintain the growth and development of the Group. strive for maximum returns for the Group and its shareholders." Olympic Park Health Management said in the announcement.