Llinks Law Offices has advised on a deal involving a Tencent Holdings-backed strategic investor, Social Innovation Xiangshan Technology, purchasing a stake in Jiangsu Xunjie Medical Technology for RMB291 million (USD41.5 million).
Xunjie Medical Technology tapped Llinks for legal advice on the deal, which attracted attention because it saw Tencent expand its healthcare holdings when it has been reducing investments since 2021 in other sectors such as HLA, JD.com, BBK, New Oriental Education & Technology Group, and Huayi Brothers Media.
Xiangshan Technology was founded in September with 99.9% shares owned by Tencent. The completed deal has given Tencent a 19.5% stake in Xunjie Medical Technology.
Xunjie Medical Technology is mainly engaged in emergency medical devices. Since its parent company Yuyue Medical acquired Metrax, a Germany-based medical device company Pumecom, the provision of semi-automatic external defibrillators and cardiac defibrillation monitors have been the strong suit of Xunjie Medical Technology.