Suzhou Basecare Medical Co., Ltd (HKG: 2170), a China-based IVF specialist, will sell a 35% stake in its assisted reproductive product developer Zhejiang Cellpro Biotech Co., Ltd for RMB 64.17 million (USD 9.5 million). Post-deal, Basecare will retain a 15% stake in Cellpro, having previously acquired 51% of the firm for RMB 85 million (USD 12.6 million).
Transaction Details
The sale of the 35% stake to an undisclosed buyer will leave Basecare with a 15% holding in Cellpro. The deal follows Basecare’s initial acquisition of a controlling 51% stake in 2021.
Strategic Partnership
As a closing condition, the buyer’s associate, Hunan Jiahui Biotechnology Co., Ltd, partnered with Basecare. The collaboration will focus on male reproductive research, translational science, and operations of Jiahui Hospital and affiliated reproductive centers in Hunan.-Fineline Info & Tech
