Shanghai RAAS acquires Nanyue Biopharmaceutical for $578m

Shanghai RAAS Blood Products (SZSE:002252) announced it will acquire Nanyue Biopharmaceutical Co., Ltd. for approximately 4.2 billion RMB (about $578 million USD). The deal, structured as an all-cash transaction, aims to expand Shanghai RAAS's plasma sourcing capabilities and strengthen its presence in the blood products sector. The agreement includes a base consideration of 4.2 billion RMB for 100% equity and a contingent payment of 50 million RMB if Nanyue achieves a specified plasma collection target in 2025. The acquisition is expected to increase Shanghai RAAS's goodwill by 3.0-3.4 billion RMB, pending final valuation adjustments. The transaction has been approved by Shanghai RAAS's board, but is still subject to customary regulatory approvals, including anti-trust review. The acquisition is expected to add 447 million RMB to revenue and 72 million RMB to net profit based on unaudited 2024 figures.