So-Young International Inc. to Acquire Controlling Interest in Wuhan Miracle Laser Systems, Inc.
BEIJING, June 28, 2021 (GLOBE NEWSWIRE) -- So-Young International Inc. (Nasdaq: SY) (So-Young or the Company), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced that it has entered into definitive agreements with Wuhan Miracle Laser Systems, Inc. ("Wuhan Miracle") and shareholders of Wuhan Zeqi Technology Co., Ltd. ("Wuhan Zeqi"), a shareholder of Wuhan Miracle, to acquire controlling interest in Wuhan Miracle for a total consideration of RMB 791 million.
- BEIJING, June 28, 2021 (GLOBE NEWSWIRE) -- So-Young International Inc. (Nasdaq: SY) (So-Young or the Company), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced that it has entered into definitive agreements with Wuhan Miracle Laser Systems, Inc. ("Wuhan Miracle") and shareholders of Wuhan Zeqi Technology Co., Ltd. ("Wuhan Zeqi"), a shareholder of Wuhan Miracle, to acquire controlling interest in Wuhan Miracle for a total consideration of RMB 791 million.
- The closing of the transaction is subject to customary closing conditions and is currently expected to occur in the third quarter of 2021.
- "We hope our strategic investment in Wuhan Miracle will enable us to continue to seize the opportunities of the industry and bring greater returns to our shareholders."
- So-Young is the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry.