Shenzhen, April 02, 2020 (GLOBE NEWSWIRE) — Aesthetic Medical International Holdings Group Limited (the “Company” or Nasdaq: AIH), a leading provider of aesthetic medical services in China, today announced the Company, through its affiliates, entered into definitive agreements (the “Agreements”) to acquire controlling interest in two treatment centers in March 2020.

Pursuant to the Agreements, the Company plans to acquire 80% equity interest in Shanghai Mingyue Aesthetic Medical Co., Ltd. (“Mingyue”), a high-end aesthetic medical service provider in Shanghai, and acquire, through several tranches of payments, 70% equity interest in Xi’an New Pengai Yueji Aesthetic Medical Clinic Co., Ltd. (“Yueji”), an aesthetic medical service provider in Xi’an, Shaanxi.

The acquisitions of Mingyue and Yueji are in line with the Company’s growth strategy in identifying, acquiring, and integrating treatment centers. It will further enable the Company to respond to growing demand for aesthetic medical services nationwide. Mingyue and Yueji will deploy the Company’s proven scalable business model with highly standardized operating procedures across a centralized network.

Dr. Zhou Pengwu, the Chairman and CEO of the Company, commented, “We are thrilled to welcome Mingyue and Yueji into the family of Aesthetic Medical International Holdings Group Limited. We believe that we and our customers will benefit from our expanded and enhanced treatment center network.”