Sinocare (300298.SZ) recently signed an agreement with the Japanese Nipro Corporation to buy out its wholly subsidiary, the USA-based Nipro Diagnostics Inc., for about 1.73 billion yuan (about 272.5 million US dollars).
Overseas mergers and acquisitions (M&As) are the direction of the company. The acquisition is to help it realize the development strategy of becoming a "global blood sugar monitoring expert".
Sinocare will further improve its product mix, introduce advanced technologies, and extend its sales network to the overseas market in a bid to lay a good foundation for its transnational business, by means of M&As, said the company.
Under the agreement, the transaction is expected to be concluded in the coming 90 days. The Nipro Diagnostics Inc. is a leading health care company in the world to provide customers with a series of excellent blood sugar monitoring products and technologies.
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