[ET Net News Agency, 10 September 2019] Wenzhou Kangning Hospital Co., Ltd. (02120)
said its wholly-owned subsidiary Zhejiang Kangning Hospital Management has agreed to buy
41% and 10% stakes in Changchun Kanglin Psychological Hospital from Hangzhou Anken and
Nuoyazhizhou Investment for RMB11.48 million and RMB2.80 million, respectively.
Upon the completion of the equity transfer, Changchun Kanglin Hospital will become a
non-wholly owned subsidiary of Wenzhou Kangning. Changchun Kanglin Hospital is a
profit-based hospital located in Changchun City, Jilin Province, the PRC with 150
registered beds, and a maximum of 300 beds can be accommodated at the existing premise.
Through the acquisition of equity interests in Changchun Kanglin Hospital, the layout of
the medical network controlled by Wenzhou Kangning will be further expanded. The directors
of Wenzhou Kangning are of the view that the acquisition is in line with the company's
long-term development objectives and strategies, and is in the interests of the Company
and its shareholders as a whole. (KL)