Shineco Announces Acquisition of Medical Device Company
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Shineco, Inc. (NASDAQ: SISI) has announced the acquisition of a 75% equity interest in FuWang Company for approximately $8.8 million in cash and 3.4 million common shares. The acquisition targets a medical device company specializing in Class II and III medical devices with a strong presence in multiple Chinese provinces. The deal is expected to create immediate synergies and enhance Shineco's financial performance through FuWang's advanced healthcare technologies and extensive sales network.
March 25, 2025 | 1:15 pm
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Acquisition of FuWang Company provides Shineco with advanced medical device technologies, expanded sales network, and projected revenue growth of $11-17 million over next three years.
The acquisition directly impacts Shineco by adding advanced medical device capabilities, expanding market reach, and introducing promising revenue streams. The strategic fit and projected financial growth suggest positive short-term market sentiment.
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