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Buchang Pharma Unit to Invest 3.2 Million Yuan in Chengdu Medtech JV

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Shandong Buchang Pharmaceuticals (SHA:603858) controlled unit Shanghai He pu Medical Technology will invest 3.2 million yuan for a 70% stake in a new medical technology company in Chengdu, China.

Sichuan He pu Tongchuang Medical Technology will have a registered capital of 4.5 million yuan, according to a Friday filing with the Shanghai bourse.

The joint venture will engage in medical device sales, technical services and equipment repair.

Shares of the pharmaceutical company were down 2% in recent trade.

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