Town Health (3886) merges medical isotope business into subsidiary of HK Health Check (0397)

Town Health is swapping Health Walk Ltd for 49% of Luck Key Investment Ltd, which will be 51% owned by HK Health Check. Simultaneously, Health Walk is buying the remaining 22% of its subsidiary, FOMT, for HK$19m in new Town Health shares (4.49% of Town Health). The pre-tax profit margin of FOMT in the 2 years to 31-Mar-2009 s 85% and 67%, which suggests a lack of competition in the sector.

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