Aesthetic Medical International Holdings Group Limited (the “Company” or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announced the Company, through its affiliates, entered into a definitive agreement (the “Agreement”) to acquire Jiangsu Liangyan Hospital Management Co., Ltd. (“Liangyan”), marking the 3rd acquisitions in 2020.
Founded in March 2019 with headquarters in Kunming, China, Liangyan is a comprehensive aesthetic medical institution approved by the Health Commission of Yunnan Province, providing surgical aesthetic service, non-surgical aesthetic service and other associated services.
Pursuant to the Agreements, the Company plans to acquire 80% equity interest in Liangyan, which owns and operates one aesthetic medical treatment center and one dental clinic in Kunming.
The acquisition of Liangyan is in line with the Company’s growth strategy in identifying, acquiring, and integrating treatment centers and will further enable the Company to respond to growing demand for aesthetic medical services nationwide. Liangyan will deploy the Company’s proven scalable business model with highly standardized operating procedures across a centralized network.
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Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “We are thrilled to welcome Liangyan into the family of Aesthetic Medical International Holdings Group Limited, marking our 3rd acquisition transaction in 2020. We will continue to search suitable acquisition targets at a fair price. COVID-19 brought both challenges and opportunities to us. We hope this acquisition will position the Company well for our business and market expansion, and build up long-term value for our shareholders.”