E-Home Plans Entering Health Industry Through Zhongrun Acquisition - E-Home Household Service (NASDAQ:EJH)

E-Home Household Service Holdings Ltd EJH, through its controlled subsidiary E-Home Household Service Holdings Limited, has signed a memorandum of understanding to explore the acquisition of Zhongrun Pharmaceutical Co Ltd. The financial details of the deal were not disclosed.
Zhongrun is a medicine and personal care products operator in China, engaged in drug development, drug sales, medical equipment sales, and special food supply.
Zhongrun operates via both online and offline sales to serve the target clients and has achieved annual sales of over RMB 100 million yuan.
E-Home expects the acquisition to be completed within the next two months.
"Entering the big health industry through Zhongrun acquisition, we could also sell drugs and health supplements to the international market from Hong Kong," said Wenshan Xie, Chairman, and CEO of E-Home.
Price Action: EJH shares are trading higher by 3.10% at $0.69 on the last check Monday.