Angel CoFund Backed IMSPEX Diagnostics Ltd Announces Strategic Agreement with Jinan Hanon Instruments Ltd
IMSPEX Diagnostics Ltd and Jinan Hanon Instruments Ltd announce the acquisition of a strategic controlling interest by the Chinese company in the Welsh technology start-up
- Undisclosed consideration representing a several times multiplier on IMSPEX’s initial funding round
- Significant return for IMSPEX investors, plus involvement in business going forward
- Access to Chinese market for IMSPEX’s high-tech products
IMSPEX Diagnostics Ltd. (IMSPEX), the UK analytical instrumentation provider owner of 90% of GAS GmbH (www.gas-dortmund.de) announced today a strategic agreement with Jinan Hanon Instruments Ltd. (HANON), a leading Chinese manufacturer of analytical chemistry instrumentation based in Jinan, Shandong Province, China.
In virtue of this agreement, HANON has acquired a controlling interest in IMSPEX’s share capital, which also gives it control of IMSPEX’s subsidiary, GAS GmbH. In addition, the parties expect to explore significant synergies in the Research, Development, Manufacturing, Marketing and Sales of their respective product lines.
Read the full article on Angel News website here.