DGJI - Dragon Jade Enters MOU for Stake in Connaissance Holdings
HONG KONG, Feb. 15, 2019 (GLOBE NEWSWIRE) -- Dragon Jade International Limited (“Dragon Jade” or “the Company”) (OTCQX: DGJI), today announced that it has entered into a memorandum of understanding (“MOU”) to acquire up to 30% of the total outstanding shares of Connaissance Holdings Limited (“Connaissance”).
Connaissance owns and operates KPM Health Limited and Dr. Renata Limited (“Dr. Renata”). Dr. Renata is a medical aesthetic center providing a comprehensive range of regulated medical aesthetic treatments that are approved by the United States Food and Drug Administration, European CE and Korea’s Ministry of Food and Drug Safety (MFDS). Medical professionals and qualified aesthetic consultants offer skin assessments and treatment services with the assistance of top-of-the-class medical aesthetic machines such as Ultherapy, PicoWay, GentleMax Pro, UltraShape V3, and injectable cosmetic dermatology treatments. KPM Health Limited operates KPM Health Centre (“KPM”), one of the largest health centers in Hong Kong. It is the only health center in Hong Kong that offers equipment with advanced technologies including a PET-CT scanner, MRI scanner, and 640-Slice CT scanner, all in one location. Dragon Jade announced its business collaboration with KPM in January 2019. Dr. Renata operates out of the same location as KPM.
“Connaissance’s companies share our vision and mission of providing the most professional health and wellness services to our customers, and our existing relationship with KPM has already begun to gain traction,” commented Dr. Steve Lai, CEO of Dragon Jade. “With this stake in Connaissance, we will be able to expand our partnership by extending Dragon Jade’s extensive marketing and sales capabilities to Dr. Renata’s operations. We will also be able to further benefit from our partners’ success.”
“This win-win business collaboration will not only capture the opportunities of the local Hong Kong market, but also the significant and growing cross-border health and beauty care medical tourist market. Our partners’ unique ability to provide comprehensive benefits for medical tourists, including world class facilities, premier services, Mandarin-speaking staff, and a convenient location, provides a strong competitive foundation for future growth. We are optimistic about the opportunities ahead and look forward to working through the next steps in finalizing the transaction,” Dr. Lai concluded.
The transaction will be funded by cash on hand. Management expects that top-line benefits from the KPM and Dr. Renata collaborations could be reflected in Dragon Jade’s financials within the next 12 months.
About Dragon Jade
Dragon Jade International Limited (OTCQX: DGJI) is a provider of premier products and services serving high net worth and affluent middle class consumers in Greater China. Through its significant international experience and regional network, Dragon Jade is focused on identifying, developing, and marketing products from other countries in order to meet the increasing demand for better health and quality of life in Asia. For more information, please visit www.dragonjade.com.
Safe Harbor Statement
This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as the Company "believes," "expects," "anticipates," "foresees," "estimates," or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions, or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
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