Gelonghui November 27丨Yeju Medical (06929.HK) announced that on November 27, 2023, the buyer (OrbusNeich Medical Company Limited, an indirect wholly-owned subsidiary of the company) and the seller (MZI, AM, BB and IBKP) signed a sales agreement with the seller (MZI, AM, BB and IBKP), and the seller conditionally agreed to sell the sales shares accounting for 84% of the issued share capital of the target company. The purchase price must not be less than $1.08 million or higher than $2016 million. After delivery, the target company will be held by the buyer in 84% of the interest. The target company will become an indirect non-wholly owned subsidiary of the company, and the target company's financial results will be recorded in the consolidated financial statements of the group.

The target company (i.e. PT Revass Utama Medika) is a limited company incorporated in the Republic of Indonesia. As of the date of this announcement, MZI holds 45% of the shares, AM holds 28% of the shares, BB holds 19% of the shares, and IBKP holds 8% of the shares. The target company is mainly engaged in the sale and distribution of cardiovascular intervention, neurological intervention, peripheral intervention and continuous renal replacement therapy products in Indonesia.

The announcement stated that the target company has a good reputation and business relationship in the sale and distribution of cardiovascular intervention, neurological intervention, peripheral intervention and continuous renal replacement therapy products in Indonesia. The target company is currently the company's exclusive distributor of medical devices in Indonesia. Due to the huge market potential of Indonesian medical devices and the Indonesian government's recent policy to support the medical device industry, the acquisition will enable the Group to utilize the experience and expertise of target companies to further expand and develop the sales capabilities of its direct sales team in Indonesia.