Medlander Announces Termination of Proposed Acquisition of 55% Equity Interest in Maidou Health
Medlander
Developer of Intelligent Pelvic Floor Rehabilitation Diagnosis and Treatment System Products
On May 30, Medlander announced that the company had originally planned to pay 192.5 million yuan with its own funds to acquire 55% of the equity in Maidou Health. However, due to the influence of objective factors, all parties failed to make the expected substantial progress. After careful evaluation and friendly negotiation, it was decided to terminate this acquisition.
Maidou Health was originally a holding subsidiary of Medlander.PreviouslyThe prospectus shows that in April 2017,The Three Founding Shareholders of MedlanderRuijia Yang, Zhihuai Shi, and Weifeng Zheng jointly established Maidou Health, serving as the distributor for Medlander's pelvic floor and postpartum rehabilitation equipment in the home-use product series.
In September 2018, Medlander acquired 100% of the equity of Nanjing Maidou Health Technology Co., Ltd. Later, due to the integration effect being lower than expected, in September 2019, Medlander sold 98% of the equity of Nanjing Maidou Health Technology Co., Ltd. to Zheng Weifeng for RMB 2,698,430.
In August 2022, Medlander successfully listed on the STAR Market. However, today, five years after selling Nanjing Maidou Health Technology Co., Ltd, its plan to buy it back at a high price has drawn the attention of the stock exchange.
On May 22, Medlander, Zheng Weifeng, and Nanjing Maichuang Enterprise Management Partnership (Limited Partnership)Nanjing Xinlan Equity Investment Partnership (Limited Partnership), Wu Henglong, and Nanjing Maidou Health Technology Co., Ltd. sign the "Equity Transfer Agreement of Nanjing Maidou Health Technology Co., Ltd.", the parties agreed that the company intends to pay with its own funds.19,250.00$10,000 to Acquire Nanjing Maidou Health Technology Co., Ltd55% of the equity.
But just one day after Medlander issued the acquisition announcement, the stock exchange sent an inquiry letter requesting additional disclosure of specific information about Maidou Health, and an explanation of the reasons and rationale for spinning off Maidou Health before the IPO and now repurchasing it at a higher valuation.
However, Medlander has not yet replied to the inquiry. Instead, on the 30th, it issued an announcement to terminate the acquisition and stated that all parties signed a termination agreement to dissolve the original agreement, and the company did not pay the equity transfer fee. The termination of this acquisition will not have a substantial impact on the company's development strategy or production and operation, will not lead to any economic losses for the company, will not adversely affect the company’s financial condition, and there is no situation that damages the interests of the company or the rights and interests of small and medium investors.
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