Meta Health has entered into a non-binding term sheet with Davin Ng for the potential acquisition of an aggregate of 30% interest in Aios Bio Sciences.
Ng, holds approximately 33.33% interest in Aios Bio Sciences, a group that was incorporated on July 25, 2022. Aios Bio Sciences specialises in the manufacturing and distribution of medical and surgical consumables and devices such as test kits, biochips and diagnostics machines.
The term sheet has set out the broad key terms and conditions of the proposed acquisition. It will form the basis for discussion between the parties for a definitive share purchase agreement (SPA) and ancillary documents. The SPA and documents should be signed no later than 60 days from the date of the term sheet.
A purchase price is currently under further negotiations between the parties.
According to Meta Health 5DX , the transaction is part of the group’s efforts to grow its healthcare business and diversify its revenue streams.
The proposed acquisition will allow the group to expand into the complementary segment of the manufacturing and distribution of medical and surgical consumables, as well as having a presence in the point of care diagnostics market, adds Meta Health.
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Shares in Meta Health closed flat at 0.7 cents on Dec 4.
