TalkMed Chongqing – the wholly-owned subsidiary of SGX-listed TalkMed Group - has established Chongqing Medtech Health Management (CMHM).
This is a joint venture company set up with Chongqing Yijiasheng Pharma Technology (CYPT) and Chongqing Tuozhen Information Technology (CTIT).
CMHM will assist partner hospitals in setting up internet hospitals and operating their internet pharmacies.
CMHM has a registered capital of RMB 10.0 million ($2.09 million). Of this, $3.0 million will come from TalkMed Chongqing while CYPT will put in RMB 5.1 million and CTIT will contribute RMB 1.9 million.
As such, TalkMed Chongqing will hold 30% of the equity interest while CYPT and CTIT will hold 51% and 19% respectively.
TalkMed Chongqing’s share of registered capital will be funded mainly through internal resources.
In an Aug 6 regulatory filing, TalkMed Group CEO Ang Peng Tiam says the move is “not expected to have any material impact on the net tangible assets per share and earnings per share for the company” in FY2021.
Shares in TalkMed Group closed at 41 cents, up 0.5 cents or 1.2%
Cover image: file photo
