# Shineco to acquire 80% of Meitong Technology for $20 million

Shineco Inc. entered into an Investment Letter of Intent on June 18, 2024, to invest $20 million in Beijing Oriental Meitong Technology Co., Ltd. in exchange for 80% of Meitong Technology's shares. Meitong Technology is a durable medical equipment company.

- Type: Acquisition
- Announced: 2024-06-20
- Where: Beijing, China, China
- Value: $20.0M
- Status: announced
- Products: durable medical equipment, wheelchairs, hospital beds, power banks
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Shineco](https://endata.com/companies/67925.md) (acquirer)
- [Beijing Oriental Meitong Technology Co., Ltd.](https://endata.com/companies/78168.md) (target)

## Sources

- [globenewswire.com](https://www.globenewswire.com/news-release/2024/06/20/2901732/0/en/shineco-enters-into-a-letter-of-intent-with-meitong-technology-to-address-china-s-aging-population.html), 2024-06-20: "Shineco intends to invest $20 million in Meitong Technology in exchange for 80% of Meitong Technology’s shares."

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