Business Update3 Jul 2024, 07:24 pm
Fischer Medical Ventures Invests in Time Medical Philippines Inc. for MRI Machine Manufacturing
AI Summary
Fischer Medical Ventures Ltd, formerly known as Fischer Chemic Ltd, has invested in Time Medical Philippines Inc., a Material Subsidiary, which is involved in the manufacturing of MRI machines. The investment was made at an arm's length price and amounts to 75000 shares at USD 8 per share, representing 75% of the Paid-up Capital. The acquisition is aimed at diversification and expansion of business, and has been completed. Time Medical Philippines Inc. was incorporated in 2023 and is based in the Philippines. The company's latest financial year turnover was nil.
Key Highlights
- Fischer Medical Ventures Ltd invests in Time Medical Philippines Inc., a manufacturer of MRI machines.
- The investment amounts to 75000 shares at USD 8 per share, representing 75% of the Paid-up Capital.
- The acquisition is aimed at diversification and expansion of business.
- The investment was made at an arm's length price.
- Time Medical Philippines Inc. was incorporated in 2023 and is based in the Philippines.