Three-A Health Group plans to sell 59% equity of Zentrogene Bioscience Laboratory Limited for HKD 22 million
Sanai Health Group plans to sell 59% equity of Zentrogene Bioscience Laboratory Limited for HKD 22 million, in order to focus its energy and resources on core pharmaceutical business. This transaction will provide additional operating capital for the group
According to the news from the Wise Finance APP, Sanai Health Group (01889) announced that on April 17, 2024, the company's wholly-owned subsidiary, Sanai International Investment Limited, plans to sell 59% of the issued share capital of Zentrogene Bioscience Laboratory Limited to Merit Investment Holding Limited for HKD 22 million in cash.
It is reported that the target company is an indirectly wholly-owned subsidiary of the company, mainly engaged in providing genetic testing and molecular biology diagnostic services, including non-invasive prenatal diagnosis, tumor gene screening, DNA testing, and paternity testing services through a licensed laboratory in Hong Kong.
After reviewing the performance and strategic positioning of the target company, the board of directors believes that the partial divestment will allow the management to reallocate their focus and resources to the core pharmaceutical business. This divestment will also provide the group with additional operating capital
