EC Healthcare (SEHK:2138) entered into an agreement to acquire Excellent Power Investments Limited from GenRx Holdings Limited for HKD 68 million on February 16, 2022. Under the terms, 10% of the consideration amount shall be paid by the EC Healthcare to the GenRx Holdings. The Deposit shall become and form part of the consideration upon Completion and the remaining balance shall be paid upon Completion.

The Consideration will be funded by the internal resources of the EC Healthcare. For the year ended March 2021, Excellent Power Investments had HKD 130.48 million revenue and HKD 10.12 million profit after tax. The deal is subject to third party approval, due diligence approval, internal corporate restructuring of the Excellent Power being legally completed and fulfilled of all necessary approvals, notices, clearances of any relevant regulatory authorities.