Mediland Pharm Enters Into Agreement To Acquire Ian’s Health Lounge

Mediland Pharm Enters Into Agreement To Acquire Ian’s Health Lounge

Mediland Pharm Limited (ASX: MPH) is an ASX listed company working in the health sector and is based in Sydney, Australia. The company has retail operations in Sydney, Melbourne and the Gold Coast through which it is aiming to deliver the best of the Australian health to the local citizens as well as international visitors at an affordable value. It soon plans to open the online outlets to deliver the quality goods between the states and to the international customers. The company sources its quality ingredients from clean and natural green land and water and makes high quality wellbeing, cosmetics and skin care supplements.

The company is also diversified in the business of luxury and wool products. It sells opal and pink diamond jewellery pieces, luxurious bedding, fashionable range of rugs etc. through its stores. It also operates in the tour and travel business, specifically in the inbound Chinese tourism market in Australia.

On 2nd April 2019, the company disseminated information regarding its entrance into a Business Sale Agreement to acquire Ian’s Health Lounge which is on a conditional basis.

Ian’s Health Lounge is an already established retail business having retail franchise stores and E-commerce platform in China. After establishing its first store in Australia, it later went on to launch its first online platform in China to promote quality baby and adult nutritional products to retail customers in China. It is successfully setting up online platforms in China and has grown significantly to integrate, six franchise shops in China, one direct shop in Australia and four E-commerce platforms, having operating entities and employees in both China and Australia.

The acquisition agreement is expected to accelerate Mediland’s growth and E-commerce strategy with an expansion in its product range. Mediland will acquire 100% stake in the company’s Australian entity and all the assets in the Chinese entity. These assets include WeChat accounts, IT systems, franchise agreements, trademarks, E-commerce platforms.

The price for the acquisition is $500,000 which is adjusted by any debt owed by the Company to the current director. The completion of the acquisition is expected by the end of June 2019, but it is subject to usual and ordinary conditions, including the Board being satisfied with the due diligence on the business.

After the acquisition, the founders of Ian’s Health will remain on board to keep controlling, operating and managing the following entity and will assist with the introduction of the E-commerce concept to Mediland and maintaining and expanding the existing sales network in China.

The company had released another statement on 2 April 2019 regarding its retail presence in New Zealand. It announced that it has secured an agreement for a lease of a retail premises in Auckland, New Zealand and will commence trading late April 2019.

The stock traded and closed 2.1% up at A$0.23 on ASX as on 2nd April 2019. Today, the stock is trading 4.26% up, at A$0.245 (As at 1:40 PM AEST, 3rd April 2019). The company is recently listed on the ASX and has given a return of 11.90% since its listing on 22nd February 2019.


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