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Hong Kong's PuraPharm to acquire Japanese health products company

PuraPharm Corp. Ltd., through its Japanese unit, signed a share purchase agreement to acquire health food manufacturer and seller SODX Co. Ltd. in a deal worth ¥244 million.

Under the deal, SODX will become an indirect wholly owned subsidiary of the Hong Kong-based Chinese medicine company.

PuraPharm will use SODX's factory as a pilot facility to transfer technological know-how from Japan to help improve quality and production efficiency of PuraPharm Chinese healthcare products. PuraPharm will also use the pilot factory as a new product development center for business expansion.

SODX produces its own branded products and makes health products and packaging specified by its customers.

As of Aug. 14, US$1 was equivalent to ¥109.46.