Benzinga | Jun 28, 2021 06:33AM EDT

So-Young to Acquire a Majority Stake in Wuhan Miracle Laser Systems for ~$122M USD

So-Young International Inc. (NASDAQ:SY) ("So-Young" or the "Company"), the largest and most vibrant social community in China for consumers, professionals and service providers in the medical aesthetics industry, today announced that it has entered into definitive agreements with Wuhan Miracle Laser Systems, Inc. ("Wuhan Miracle") and shareholders of Wuhan Zeqi Technology Co., Ltd. ("Wuhan Zeqi"), a shareholder of Wuhan Miracle, to acquire controlling interest in Wuhan Miracle for a total consideration of RMB 791 million. The closing of the transaction is subject to customary closing conditions and is currently expected to occur in the third quarter of 2021.