Aesthetic Medical International Holdings Group Limited Enters into Definitive Agreements to Acquire Controlling Interest in Two Treatment Centers
Shenzhen, April 02, 2020 (GLOBE NEWSWIRE) -- Aesthetic Medical International Holdings Group Limited (the “Company” or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announced the Company, through its affiliates, entered into definitive agreements (the “Agreements”) to acquire controlling interest in two treatment centers in March 2020.
Pursuant to the Agreements, the Company plans to acquire 80% equity interest in Shanghai Mingyue Aesthetic Medical Co., Ltd. (“Mingyue”), a high-end aesthetic medical service provider in Shanghai, and acquire, through several tranches of payments, 70% equity interest in Xi'an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd. (“Yueji”), an aesthetic medical service provider in Xi'an, Shaanxi.
The acquisitions of Mingyue and Yueji are in line with the Company’s growth strategy in identifying, acquiring, and integrating treatment centers. It will further enable the Company to respond to growing demand for aesthetic medical services nationwide. Mingyue and Yueji will deploy the Company’s proven scalable business model with highly standardized operating procedures across a centralized network.
Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “We are thrilled to welcome Mingyue and Yueji into the family of Aesthetic Medical International Holdings Group Limited. We believe that we and our customers will benefit from our expanded and enhanced treatment center network.”
About Aesthetic Medical International Holdings Group Limited
AIH, known as “Peng’ai” in China, is a leading provider of aesthetic medical services in China. AIH operates through treatment centers that spread across 17 cities in mainland China, and also has presence in Hong Kong and Singapore. Leveraging over 20 years of clinical experience, AIH provides one-stop aesthetic service offerings, including surgical aesthetic treatments, non-surgical aesthetic treatments, and general medical services and other aesthetic services. According to certain third party industry consultant, AIH was the third-largest private aesthetic medical services provider in China in terms of revenue in 2018. For more information regarding the Company, please visit: https://ir.aihgroup.net.
Safe Harbor Statement
This press release contains “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These risks and uncertainties and others that relate to the Company’s business and financial condition are detailed from time to time in the Company’s SEC filings, and could cause the actual results to differ materially from those contained in any forward-looking statement. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements, except as required under applicable law.
Investor Relations Contact
For investor and media inquiries, please contact:
Aesthetic Medical International Holdings Group Limited
Email: ir@pengai.com.cn
Ascent Investor Relations LLC
Ms. Tina Xiao
Tel: (917) 609-0333
Email: tina.xiao@ascent-ir.com
