Genertec Universal Medical forms JV to expand healthcare presence

Genertec Universal Medical Group Company Limited has entered into an agreement with CMNE and Healbee Tech to establish a new joint venture. The registered capital of the joint venture will be RMB30 million, with contributions from Genertec Universal Medical (RMB15.03 million, or 50.1%), CMNE (RMB4.47 million, or 14.9%), and Healbee Tech (RMB10.50 million, or 35%). All capital contributions are to be made in cash by December 31, 2026. The joint venture will be accounted for as a subsidiary of Genertec Universal Medical.

The formation of the joint venture aims to capitalize on special policies within the Boao Lecheng Medical Tourism Pilot Zone in Hainan, accelerating the registration, clinical application, and commercialization of innovative medical devices in the PRC. The collaboration is expected to enhance the group's expertise in ultrasonic tissue fragmentation technology, expand its business, and create strategic value through the integration of medical resources.

CMNE, an indirectly wholly-owned subsidiary of GT-PRC, is a connected person of Genertec Universal Medical. The formation of the joint venture is subject to reporting and announcement requirements under Chapter 14A of the Listing Rules, but is exempt from circular and independent shareholders’ approval requirements.