HONG KONG, Aug 16, 2021 - (ACN Newswire via SEAPRWire.com) - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the Group enters into a sales and purchase agreement to acquire the entire issued share capital of a veterinary hospital chain (the "Target Companies") and the total consideration will be paid in cash. The Target Companies are principally engaged in provision of veterinary services in Hong Kong and operate five veterinary hospitals with 16 registered veterinary surgeons. According to the unaudited financial information for the year ended 31 March 2021, the profit after tax of the Target Companies amounted to approximately HK$8.3 million.Pursuant to the agreement, the acquisition will be conducted in two tranches. The consideration for the first tranche of the equity interests, namely 51% of the issued share capital, in the veterinary hospital chain is HK$26.2 million. In the final tranche of the acquisition, EC Healthcare will acquire the remaining issued share capital of the veterinary hospital chain. The amount of the c...