Medical Net, Inc. concluded merger agreement to acquire remaining 9.96% stake in Blanc Networks, Inc.
August 29, 2019
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Medical Net, Inc. (TSE:3645) concluded merger agreement to acquire remaining 9.96% stake in Blanc Networks, Inc. on August 29, 2019. Post completion, Blanc Networks, Inc. will be merged into Medical Net, Inc. Medical Net will pay ¥1360 per share in consideration. For the fiscal year May 2019, Blanc Network has sales of ¥70.902 million, operating loss of ¥26.5 million, net loss of ¥26.5 million, total assets of ¥34.7 and net assets of ¥21.9 million. Transaction was approved by Board of Medical Net on August 29, 2019. Completion is expected on November 1, 2019. As of November 26, 2019, the transaction is expected to close on February 1, 2020.
Medical Net, Inc. is a Japan-based company mainly engaged in media platform business, medical institution management support business and medical business-to-business (BtoB) business. The Company operates through three business segments. Media Platform segment operates a dedicated portal that provides specific information about the body, health, beauty and parenting. Medical Institution Management Support segment provides search engine marketing (SEM) services that includes search engine optimization (SEO) services and listing advertising (search-linked advertising) operation agency services, corporate Website creation and maintenance services, as well as agency sales services. It also operates dental clinics and sells equipment, instruments and medicines to dental clinics. Medical BtoB segment operates a BtoB portal site that includes dental workers.
MEDICAL NET, INC. 