Kaisa Health to Acquire Controlling Stake in Chinese Drug Manufacturer

MT Newswires Live

Mar 19

Kaisa Health Group (HKG:0876) said it agreed to acquire a controlling stake in a Chinese drug manufacturer in a 21.6 million yuan deal, according to a Hong Kong bourse filing Wednesday.

Shares of the dental prosthetics firm fell nearly 28% in morning trade Thursday.

The company is acquiring a 54.84% in Qinghai Pharmaceutical via a holding firm. Qinghai Pharmaceutical owns research and development and manufacturing facilities located in Xining City, Qinghai.

The company plans to settle the payment via the issue of shares representing 2.69% of the business to Profit Vigorous Developments, the seller of the stake.

Kaisa Health said the acquisition will allow the group to benefit from better economies of scale in terms of sales and marketing activities.

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Qinghai Pharmaceutical owns research and development and manufacturing facilities located in Xining City, Qinghai.</p><p>The company plans to settle the payment via the issue of shares representing 2.69% of the business to Profit Vigorous Developments, the seller of the stake.</p><p>Kaisa Health said the acquisition will allow the group to benefit from better economies of scale in terms of sales and marketing activities.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1222","symbol_name":"医疗保健用品","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2620154218","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2620154218","pubTimestamp":1773891591,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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