Kindstar Globalgene Technology, Inc. (HK:9960) has released an update.
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Kindstar Globalgene Technology, Inc. has announced the acquisition of 100% equity interest in both the Target WFOE and the Target US Company for a total consideration of approximately US$31.30 million, which will be paid through a combination of cash and the issuance of shares. The acquisitions are part of the company’s strategy to expand across the industry value chain by integrating complementary and synergistic technology or testing-related companies. Additionally, new contractual arrangements will be established to comply with PRC laws regarding foreign ownership in medical institutions.
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