BEIJING (dpa-AFX) - BIMI International Medical Inc. (BIMI), a Chinese healthcare company, said on Thursday that it has inked a deal to acquire Phenix Bio Inc., for $1.80 million. The sum includes $0.18 million in cash and 2.70 million shares of BIMI at $0.60 per share.
The acquisition is expected to be closed in the third quarter.
Commenting on the acquisition, Tiewei Song, CEO said: 'The goal of Phenix is to target multiple fields, such as general recovery, cardiovascular and cerebrovascular disease prevention, male health care, female health care, and memory enhancement for the elderly.'
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