Medical Net, Inc. agreed to acquire additional 56.4% stake in MiRTeL Co., Ltd from Toshiya Kato, Hidetoshi Tahara, Naoki Tomokami, Eiji Tahara and Yoshino Tahara.
November 26, 2023
Share
Medical Net, Inc. (TSE:3645) agreed to acquire additional 56.4% stake in MiRTeL Co., Ltd from Toshiya Kato, Hidetoshi Tahara, Naoki Tomokami, Eiji Tahara and Yoshino Tahara on November 27, 2023. Prior to the transaction, Medical Net, Inc. held 2.6% stake in MiRTeL. As part of acquisition, 305,501 shares will be acquired.
For period ended December 2022, MiRTeL reported net assets of ¥287 million, total assets of ¥516 million, sales of ¥728 million, operating income of ¥177 million and net income of ¥169 million. As of December 21, 2023, Medical Net entered into a contract to acquire additional 12.1% of the shares of MiRTeL from HC No. 8 Fund and High-Value C 1st Fund managed by Hiroshima Venture Capital Co., Ltd., Furusato Renkei Ouen Fund managed by Hiroshima Innovation Network Inc., Will Group Fund Investment Limited Partnership managed by Future Venture Capital Co., Ltd. and 4 others.
Following both transactions, Medical Net holds 71.1% stake in MiRTeL. The transaction is expected to complete on January 5, 2024.
Medical Net, Inc. is a Japan-based company mainly engaged in media platform business, medical institution management support business and medical business-to-business (BtoB) business. The Company operates through three business segments. Media Platform segment operates a dedicated portal that provides specific information about the body, health, beauty and parenting. Medical Institution Management Support segment provides search engine marketing (SEM) services that includes search engine optimization (SEO) services and listing advertising (search-linked advertising) operation agency services, corporate Website creation and maintenance services, as well as agency sales services. It also operates dental clinics and sells equipment, instruments and medicines to dental clinics. Medical BtoB segment operates a BtoB portal site that includes dental workers.
Medical Net, Inc. agreed to acquire additional 56.4% stake in MiRTeL Co., Ltd from Toshiya Kato, Hidetoshi Tahara, Naoki Tomokami, Eiji Tahara and Yoshino Tahara.