TOPCHOICE MEDICAL CORPORATION plans to acquire an ophthalmic optometry company for 600 million yuan, intending to establish ophthalmic optometry zones within its dental hospital network

Image Source: Announcement of Topchoice Medical on Equity Acquisition and Connected Transaction

DentalGoodNews | March 24, 2026, Topchoice Medical Co., Ltd. (hereinafter referred to as "Topchoice Medical") announced its intention to acquire 100% equity stakes in Hangzhou Cunji Glasses Co., Ltd., Ningbo Guangji Eye & Vision Technology Co., Ltd., Hangzhou Guangji Eye & Vision Technology Co., Ltd., and Xinchang Guangji Glasses Co., Ltd. using its own funds of 600 million yuan (600 million RMB).

Founded in 1995, Topchoice Medical is China's first main-board listed company specializing in dental healthcare chain operations. As of June 30, 2025, it operates a total of 89 medical institutions. This acquisition aims to establish ophthalmology and optometry zones within its existing dental hospital network, building a "Bright Eyes and White Teeth" health ecosystem to enhance operational efficiency and synergistic value.

There are four target companies, all of which are enterprises directly or indirectly controlled by Zhejiang Topchoice Ophthalmology Hospital Investment Management Co., Ltd. ("Ophthalmology Investment"). The actual controller of Ophthalmology Investment and the target companies is Lv Jianming, making this transaction a connected one. According to the disclosed unaudited key financial data as of the end of 2025:

• Hangzhou Cunji Glasses Co., Ltd.: 2025 revenue of 152.8827 million yuan (approximately 153 million RMB), net profit of 55.5848 million yuan.
• Ningbo Guangji Eye & Vision Technology Co., Ltd.: 2025 revenue of 455,200 yuan, net profit of -72,000 yuan.
• Hangzhou Guangji Eye & Vision Technology Co., Ltd.: The announcement states the company has not conducted substantial business operations.
• Xinchang Guangji Glasses Co., Ltd.: 2025 revenue of 1.0118 million yuan, net profit of -77,500 yuan.

Upon completion of the transaction, the company plans to establish ophthalmology and optometry zones within its existing dental hospital network to enhance operational efficiency and synergistic value.

According to previous reports by DGN, the company completed the 100% equity acquisition of Shanghai Cunji Dental Clinic in the first three quarters of 2025, with cash outflow from investing activities totaling 324 million yuan during that period. The company's cumulative revenue for the first three quarters was 2.290 billion yuan, a year-on-year increase of 2.56%.

The announcement notes that this transaction still requires approval at the shareholders' meeting. The counterparty has made performance commitments, but macroeconomic fluctuations and intensified industry competition may still lead to failure in fulfilling these commitments.