Corporate News
19 June
2023
On 19th June 2023, the board of directors resolved the split-off and capital reduction of the businesses for agency distribution in Taiwan and long-term equity investment.
In order to clarify the professional division of labor between "research and development of new drugs" and "sales and marketing of pharmaceutical products," to focus on enhancing the competitiveness of their respective industries and to effectively expand their business territories, Holy Stone Healthcare (HSHC) will be split-off the relevant businesses of agency distribution in Taiwan and private brand medical materials in Europe in accordance with the provisions of the "Company Act" and the "Business Mergers and Acquisitions Act." The relevant businesses will be transferred to the newly established Holy Young BioMedical Co., Ltd. (HYBMC), with new shares issued by HYBMC to all shareholders of HSHC as consideration.
Through this division of business assets, HSHC will continue to focus on the research and development of new drugs based on「Hyaluronan Drug Delivery (HDD)」. HYBMC will take over the businesses of agency distribution in Taiwan from HSHC and private brand medical materials in Europe from MDT Int’l which currently operates as HSHC's European subsidiary. HYBMC will use MDT Int'l's global marketing network and private brand medical materials to expand into new indications, products and markets in order to expand its operations, increase revenue and profits, and generate better returns on shareholders' equity.