# Huitai Medical to acquire remaining 37.33% stake in Shanghai Hongtong for 586M yuan

Huitai Medical plans to use 586 million yuan of its own funds to acquire the remaining 37.33% equity in its subsidiary Shanghai Hongtong from minority shareholders, making it a wholly owned subsidiary. The deal is based on a valuation of 1.569 billion yuan for Shanghai Hongtong.

- Type: Acquisition
- Announced: 2022-06-14
- Where: China
- Value: $87.0M (586.0M CNY)
- Status: announced
- Products: electrophysiology equipment, electrophysiology consumables
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Huitai Medical](https://endata.com/companies/63442.md) (acquirer)
- [Shanghai Hongtong](https://endata.com/companies/63443.md) (target)

## Sources

- [beta.zhitongcaijing.com](http://beta.zhitongcaijing.com/content/detail/738710.html), 2022-06-14: "惠泰医疗(688617.SH)发布公告，公司拟使用自有资金5.86亿元人民币分两步收购控股子公司上海宏桐实业有限公司(简称“上海宏桐”)少数股东张向梅、张勇、沈海东、谷双全、肖昆、吴琦、王伏龙、刘宇、张纯逸9人合计持有的上海宏桐37.33%股权。"

---
Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.