EXTRAWELL PHAR (00858) spends RMB2.5 to acquire equity interest in health care management company - AASTOCKS.com

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EXTRAWELL PHAR (00858) spends RMB2.5 to acquire equity interest in health care management company

2012-01-16 10:36:22

EXTRAWELL PHAR (00858) announced its subsidiary Jilin Extrawell, agreed to acquire from chairman Mao Yu Min 20% equity interest of a health care management company owned by Shanghai United Gene at a consideration of RMB2.5 mln which will be funded by internal resources of the company.

The board believed that as the demand of health care management has increased due to population growth and aging in the mainland, the mentioned acquisition would enable the group to capture the market opportunity of the industry. (t)

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