Prenetics Global Limited (NASDAQ: PRE), a prominent health sciences company with operations in the US and Hong Kong, China, has announced a significant investment of USD 30 million by Chinese internet conglomerate Tencent into Insighta, a Hong Kong-based company specializing in early cancer detection.
Insighta represents a substantial joint venture valued at USD 200 million between Prenetics and the renowned scientist Y.M. Dennis Lo. Post-transaction, Prenetics’ ownership in Insighta will decrease from 50% to 35%, while the co-founders of Insighta will maintain their 50% stake. As part of the transaction, Prenetics has received USD 30 million in cash from the sale of secondary shares to Tencent. Tencent will also secure a seat on Insighta’s Board of Directors, which will be occupied by Alexander Ng, President of Tencent Healthcare.
This investment underscores Tencent’s strategic move into the healthcare sector and highlights the potential of early cancer detection technologies in shaping the future of medical diagnostics.- Flcube.com
