Tigermed plans sale of Frontage's overseas laboratory business to Charles River
CRL•Tigermed plans to participate in the privatization of controlled subsidiary Frontage Holdings, followed by a restructuring that would sell Frontage's overseas laboratory services business to Charles River Laboratories and Frontage Chairman Song Li and his trusts. Frontage's China business would be retained, and the transaction remains subject to conditions and implementation requirements.
1. Proposed restructuring
Tigermed proposes to participate in the privatization of controlled subsidiary Frontage Holdings through wholly owned Hongkong Tigermed. A subsequent restructuring would sell Frontage's overseas laboratory services business to Charles River Laboratories and Frontage Chairman Song Li and his trusts, while retaining Frontage's China business.
2. Proceeds and conditions
The transaction is expected to generate proceeds and investment gains for potential reinvestment in Tigermed's core clinical research business. Completion remains subject to relevant conditions and implementation requirements.
