EUROEYES (01846.HK): Completes Acquisition of Dutch Refractive Surgery Group at Consideration of Approximately EUR131 Million; Reallocates Proceeds to Prioritise European Expansion

NewTimeSpace News: On 22 July 2026, EUROEYES  (01846.HK) issued an announcement regarding completion of a very substantial acquisition and connected transaction, together with the variation of use of proceeds.

In respect of the acquisition: all conditions precedent under the sale and purchase agreement and subscription agreement have been satisfied, and the acquisition was closed on 22 July 2026. The aggregate consideration amounts to EUR131 million, comprising fixed equity consideration of EUR132 million, lock-box compensation of EUR14.237 million, less an adjustment for leakage of EUR14.653 million. Following completion of the subscription, EuroEyes Netherlands is owned as to approximately 90.31% by the Company and 9.69% by Manco. Nine surgeons exercised the reinvestment opportunity with a total investment of EUR2.075 million.

Regarding variation of use of proceeds: as at the date of the announcement, unused net proceeds stood at approximately HK$217 million. The Board resolved to reallocate unused funds originally designated for establishing clinics in major Chinese cities (HK$66 million) and boosting marketing activities (HK$86.49 million), amounting to around HK$152 million, to finance acquisitions of European clinic groups. The change is attributable to material shifts in China’s operating and macroeconomic environment. By contrast, the acquisition of the leading Dutch refractive surgery provider represents a highly attractive strategic opportunity — the target delivered a revenue CAGR exceeding 30% over the three years ended end-2025.