Gofar Intends to Acquire a Molecular Diagnostic Service Prov
Release Time：2020/09/21 Click：
Recently, Gofar，a well-known biomedical manufacturer, issued a report (draft) on the acquisition of KOALSON, proposing to purchase the 99.9779% of KOALSON's shares held by eight people with the transaction price of about 356 million yuan by issuing shares and paying cash. After the deal is completed, the company will add DNA testing business. At present, the reorganization has been approved by China Securities Regulatory Commission conditionally.
Established in 1993, Gofar is mainly engaged in pharmaceutical manufacturing industry, pharmaceutical circulation industry, tumor radiotherapy and medical imaging technology services.
Founded in 2007, KOALSON is a provider of comprehensive DNA testing solutions, mainly engaged in the development, production and sales of DNA extraction, DNA testing equipment and reagents and consumables, as well as the identification and diagnosis of genomics and other technical services. Its main customers are public security units, and the company's top five customers are basically Guangdong public security bureau at all levels.
Revenue reached 148 million in 2019, up 36% year-on-year;Net profit attributable to the parent company reached 23.07 million, up 38.5% from the same period last year.It is worth mentioning that the net profit of KOALSON in 2018 increased by 206.4% year on year.
In this transaction center, the estimated value of all shareholders of KOALSON is 360 million yuan, the book value attributable to the parent company is 83.854 million yuan, and the appreciation rate is 329.68%.
Gofar believes that KOALSON has technological advantages, channel advantages, market advantages, and sustained profitability. Its forecasted revenue and performance are achievable, and the compound growth rate of operating income and net profit during the forecast period is lower than its historical annual compound growth rate. This time the valuation of KOALSON is more cautious, and its valuation P/E ratio is lower than the average of companies in the same industry, and the valuation is reasonable.
This transaction is an important step for the listed company to combine its own advantages and internal and external factors to focus on its medical and health development strategy, and to achieve its further introduction of high-quality corporate strategic planning in the biomedical field.