Aesthetic Medical International Holdings Group Limited to Acquire Controlling Interest in Guangdong Hanfei Investment Management Co., Ltd., Marking the 4th Acquisitions in 2020

Rhea-AI Summary

Aesthetic Medical International Holdings Group Limited (AIH) has announced the acquisition of a 51% equity interest in Guangdong Hanfei Investment Management Co., Ltd. This 4th acquisition of 2020 aims to enhance AIH's capabilities in delivering aesthetic medical services across China. Hanfei operates four treatment centers and will adopt AIH's scalable business model. The move aligns with AIH's growth strategy and responds to the increasing demand in the aesthetic sector. Chairman Dr. Zhou Pengwu expressed confidence in this acquisition as a crucial step for the company's expansion and customer base enhancement.

Positive

• Acquisition of 51% equity in Hanfei expands operational capacity.
• Strategic alignment with growing demand for aesthetic services.
• Utilization of AIH's scalable business model in Hanfei's operations.

Negative

• None.

Shenzhen, China, July 14, 2020 (GLOBE NEWSWIRE) -- Aesthetic Medical International Holdings Group Limited (the “Company” or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announced the Company, through its affiliates, entered into a definitive agreement (the “Agreement”) to acquire Guangdong Hanfei Investment Management Co., Ltd. (“Hanfei”), marking the 4th acquisitions in 2020. Pursuant to the Agreements, the Company plans to acquire 51% equity interest in Hanfei, which owns and operates four aesthetic medical treatment centers in China.

Founded in 2017 with headquarters in Guangzhou, China, Hanfei is a comprehensive aesthetic medical group providing surgical aesthetic service, non-surgical aesthetic service and other associated services.

The acquisition of Hanfei is in line with the Company’s growth strategy in identifying, acquiring, and integrating treatment centers and will further enable the Company to respond to growing demand for aesthetic medical services nationwide. Hanfei will deploy the Company’s proven scalable business model with highly standardized operating procedures across a centralized network.

Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “We are thrilled to welcome Hanfei into the family of Aesthetic Medical International Holdings Group Limited, marking our 4th acquisition transaction in 2020. This transaction will enhance our capabilities and expand our customer base, while also providing us with a partner that shares in our commitment to customers and can add strategic and operational value. Based on our solid reputation and extensive experience in aesthetic medical industry, we are confident that our acquisition will enable us to execute on our strategy and next phase of growth.” 

About Aesthetic Medical International Holdings Group Limited

AIH, known as “Peng’ai” in China, is a leading provider of aesthetic medical services in China. AIH operates through treatment centers that spread across major cities in mainland China, and also has presence in Hong Kong and Singapore. Leveraging over 20 years of clinical experience, AIH provides one-stop aesthetic service offerings, including surgical aesthetic treatments, non-surgical aesthetic treatments, and general medical services and other aesthetic services. According to certain third party industry consultant, AIH was the third-largest private aesthetic medical services provider in China in terms of revenue in 2018. For more information regarding the Company, please visit: http://ir.aihgroup.net/. 

Safe Harbor Statement

This press release contains “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These risks and uncertainties and others that relate to the Company’s business and financial condition are detailed from time to time in the Company’s SEC filings, and could cause the actual results to differ materially from those contained in any forward-looking statement. These forward-looking statements are made only as of the date indicated, and the Company undertakes no obligation to update or revise the information contained in any forward-looking statements, except as required under applicable law.

Investor Relations Contact

For investor and media inquiries, please contact:

Aesthetic Medical International Holdings Group Limited

Email: ir@pengai.com.cn

Ascent Investor Relations LLC

Ms. Tina Xiao

Tel: (917) 609-0333

Email: tina.xiao@ascent-ir.com

FAQ

What is the significance of Aesthetic Medical International Holdings Group Limited's acquisition of Hanfei?

The acquisition of Hanfei enhances AIH's operational capacity and allows for a greater response to the growing demand for aesthetic medical services in China.

When did Aesthetic Medical International Holdings Group Limited announce the acquisition of Hanfei?

The acquisition was announced on July 14, 2020.

What percentage of Hanfei is Aesthetic Medical International Holdings Group Limited acquiring?

AIH is acquiring a 51% equity interest in Hanfei.

How does the acquisition impact Aesthetic Medical International Holdings Group Limited's growth strategy?

This acquisition aligns with AIH's strategy to integrate treatment centers, enhancing its capabilities and expanding its customer base.

What services does Hanfei provide?

Hanfei offers both surgical and non-surgical aesthetic medical services.