Besides dental services, the target is in medical device technology development and wholesale and retail of medical devices.
Aoxin will pay cash of RMB75 million and issue new shares at 30 cents each to fund the balance.
The acquisition will come with a profit guarantee of RMB71 million in the five years following the deal and underpinned with a 15-year service agreement by the seller and other related individuals.
Parent company Q&M is in the midst of three concurrent acquisitions in Singapore, Australia and Thailand.
See also: Jardine Matheson buys Australia-based diagnostic chain at enterprise value of A$3.4 bil
Aoxin shares closed at 19 cents on March 26, down 3.05% for the day but up 536.67% in the past year.
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