Shanghai Haohai Biological Technology Co., Ltd. signed the share transfer agreement to acquire 38.23% in Ouhua Meike Medical Technology Co., Ltd. from Cathay Capital North American-Sino Fund managed by Cathay Capital Private Equity SAS and Highlight Capital Partners I L.P. for approximately CNY 140 million.
February 20, 2021
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Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) signed the share transfer agreement to acquire 38.23% in Ouhua Meike (Tianjin) Medical Technology Co., Ltd. from Cathay Capital North American-Sino Fund managed by Cathay Capital Private Equity SAS and Highlight Capital Partners I L.P. for approximately CNY 140 million on February 21, 2021. In a related transaction Shanghai Haohai Biological Technology Co., Ltd. (SEHK:6826) entered into a 25.41% capital injection agreement with Ouhua Meike (Tianjin) Medical Technology Co., Ltd. For Post completion of acquisition and Capital Injection, Shanghai Haohai Biological Technology Co., Ltd. will hold 63.64% of the total equity interests in Ouhua Meike (Tianjin) Medical Technology Co., Ltd. The Shanghai Haohai Biological Technology Co., Ltd. will invest a total of CNY 205 million to obtain 63.64% stake in Ouhua Meike. As on September 30, 2020, Ouhua Meike (Tianjin) Medical Technology Co., Ltd. reported total asset of CNY 341.865 million, Net loss of CNY 5.48 and net assets of CNY 233.4615 million. The Acquisition Completion under the relevant Share Purchase Agreement is conditional upon, among other things, (a) the representations and warranties of all parties to the Share Purchase Agreement remaining true and accurate and (b) the approval, consent, permission, registration and filing from or with the relevant and competent authority required to complete the transaction have been obtained or completed. Transaction is approved by the Board of Shanghai Haohai Biological Technology Co., Ltd. After the completion of the Acquisition and the Capital Injection, the board of directors of Ouhua Meike (Tianjin) Medical Technology Co., Ltd will consist of five directors, of which Shanghai Haohai Biological Technology Co., Ltd. will be entitled to nominate three directors and the Founding Shareholders shall be entitled to nominate two directors. The completion of the Acquisition and the Capital Injection is subject to the satisfaction and/ or waiver of conditions precedent under the Share Purchase Agreements and the Capital Injection Agreement respectively, which may or may not be fulfilled. The Acquisition Completion will take place within 10 business days following the satisfaction or waiver of the conditions precedent under the relevant Share transfer Agreement.
Shanghai Haohai Biological Technology Co., Ltd. is a China-based company principally engaged in biological technology-related businesses. The businesses of the Company include the manufacture and sales of biological and medical hyaluronate, the research and development of biological engineering and pharmaceutical products and the provision of related services. Its products include orthopedics products, medical aesthetics and wound care products, ophthalmology products and anti-adhesion and hemostasis products, among others. Orthopedics products include sodium hyaluronate injection, medical chitosan and medical sodium hyaluronate gel. Medical aesthetics and wound care products include recombinant human epidermal growth factor (rhEGF), among others. Ophthalmology products include ophthalmic viscoelastic devices and lubricant eye drops. Anti-adhesion and hemostasis products include medical collagen sponges, among others. The Company mainly operates businesses in Mainland China.
Shanghai Haohai Biological Technology Co., Ltd. signed the share transfer agreement to acquire 38.23% in Ouhua Meike Medical Technology Co., Ltd. from Cathay Capital North American-Sino Fund managed by Cathay Capital Private Equity SAS and Highlight Capital Partners I L.P. for approximately CNY 140 million.