Jin Medical enters MOU to acquire medical equipment sharing platform

Jin Medical announced the signing of a preliminary Memorandum of Understanding, MOU, with Jiangsu Zhongjin Kanglu Information Technology to acquire all or a partial stake in Zhongjin Kanglu. According to the MOU, the Company will conduct a comprehensive due diligence process to evaluate and determine the feasibility and potential value of the acquisition. It is expected that the due diligence will be completed by December 31, 2023. It is expected that commencing from March 2024, the parties will enter into detailed negotiations for the potential acquisition. Investors should exercise caution as there is no certainty that the potential acquisition will be completed. Wang Erqi, Chairman and CEO of the Company, commented, “The signing of this highly anticipated MOU marks an important milestone in the collaboration and development between the Company and Zhongjin Kanglu. As a leading enterprise in the field of shared medical equipment, with its Small V Sharing Project, the innovative solutions and well-established channels in medical institutions brought by it, Zhongjin Kanglu will create a good synergistic effect for the promotion of JinMed’s products in China. We intend to proceed with the acquisition process in full swing while bringing more innovation and growth opportunities to the industry.”