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Innovative Pharma (00399) terminates clinics acquisition
Innovative Pharmaceutical Biotech (00399) said it agreed to terminate the memorandum of understanding for a proposed acquisition of the 
controlling interest in HK.DNA Diagnostics Centre Limited, Hong Kong Modern Medical
Service Limited and Modern Medical Specialties Limited.
The target group consists of three limited liability companies all of which were 
incorporated in Hong Kong. The principal business operation of the target group is to
provide one-stop accredited medical consultation and health examination services in Hong 
Kong. The target group currently operates three clinics which are situated in Tsim Sha 
Tsui, Mong Kok and Causeway Bay, respectively.
The company considers the termination would not have any material adverse impact on its
existing business operation. It will continue to explore other potential investment
opportunities to strengthen the profitability.

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