[Medical Devices | Bosun Biotech Implements Fuller’s Solution to Digitally Upgrade Supply Chain Management]

Abstract: Recently, Zhejiang Bosun Biotechnology Co., Ltd. signed an agreement with Fuller to introduce the FLUX WMS solution, enabling lean management across the entire material flow and enhancing its digital supply chain management capabilities. As a leading provider of integrated solutions for congenital defect prevention and control in China, Bosun Biotech is a pioneer and practitioner in this field. Since its founding in 2003, the company has delivered professional, customized congenital defect prevention and control solutions to over 700 congenital defect prevention and control centers, newborn screening centers, prenatal diagnosis centers, and prenatal screening institutions nationwide. It consistently creates value for its customers, having collectively conducted over 100 million screenings and empowered more than 30,000 families carrying fetuses with congenital defects to make informed reproductive choices. Additionally, it has helped diagnose and provide corresponding treatment and medical support to over 50,000 newborns suffering from inherited metabolic disorders. Customer-centric, Bosun Biotech has gradually established an integrated industrial chain spanning R&D, product manufacturing, clinical testing, and congenital defect consulting services.

Practical Analysis of Financing for Corporate Mergers and Acquisitions

Today, corporate mergers and acquisitions (M&A) are growing larger in scale and higher in value—some international deals even reach several billion U.S. dollars. However, successful M&A transactions require substantial financial resources; relying solely on a company’s internal funds is generally insufficient. External financing—such as debt financing, equity financing, or trust financing—is typically required to complete such transactions. Fundamentally, M&A represents a high-risk investment activity for enterprises, with the ultimate objective of maximizing enterprise value. Mangguo Consulting adopts a practice-oriented approach, using case studies to analyze transaction structuring and risk-control measures in M&A financing. I. Typical Case 1. Transaction Background HD Company is a large, nationwide real estate developer. However, it had repeatedly failed to acquire land parcels in the central urban area of a certain second-tier city through public land auctions, hindering its strategic expansion into that region. A Company, a local small-scale developer, had acquired land-use rights for a parcel in the same central urban area two years earlier and secured trust financing to pay the land premium. Subsequently, due to limited financial capacity and an unfavorable market environment, A Company abandoned further development plans. HD Company sought to enter the region via project acquisition and, after learning about A Company and the idle land parcel during due diligence, entered negotiations with A Company and ultimately reached an agreement: HD would acquire 100% of A Company’s equity for a total consideration of RMB 1 billion, comprising RMB 700 million to repay A Company’s maturing trust financing and RMB 300 million covering original shareholder capital contributions plus equity acquisition premium. HD planned to secure RMB 700 million in accompanying financing from DF Asset Management Company, specifically earmarked to settle the debt portion of the acquisition consideration. 2. Transaction Structure DF Company and HD Company jointly designed the following transaction arrangement: (1) Transaction Structure Diagram (2) Specific Transaction Arrangements ① Safeguards a. Guarantee: Joint and several liability guarantee provided by HD Company; b. Pledge: 100% equity stake of A Company pledged; c. Mortgage: Land parcel owned by A Company mortgaged; d. Project Oversight Measures: — Reserved signature stamps on the entrusted loan fund account; funds strictly designated for repaying the trust financing; — Appointment of a director by HD Company to A Company’s board, granting veto power over resolutions concerning additional external financing, guarantees, or land mortgages; — Reserved signature stamps on A Company’s subsequent sales revenue account; sales proceeds may only be used to repay DF’s financing or pay construction costs, with all disbursements subject to DF’s prior approval. ② Transaction Process — HD Company first contributes RMB 200 million and, per the terms of its M&A agreement with A Company, acquires 49% of A Company’s equity (assuming the remaining 51% is pledged under the existing trust financing). Upon completion of this transfer, HD pledges this 49% equity stake to DF Company. — HD Company and DF Company execute relevant guarantee agreements; DF Company and A Company execute respective pledge, mortgage, and fund supervision agreements. — DF Company completes registration of a second-priority mortgage on the project’s land parcel. — DF Asset disburses an entrusted loan of RMB 700 million to A Company, exclusively for repaying its prior trust financing. Concurrently, HD Company pays the remaining RMB 100 million equity premium. — Upon full repayment of the prior trust financing, DF Company’s land mortgage becomes first-priority; within ten working days after release of the remaining 51% equity pledge, A Company pledges that portion to DF Company. — HD Company assumes control of A Company’s project for development, while DF Company implements its subsequent active management measures.

H.B. Fuller Updates Financing Arrangements for Advanced Medical Solutions Acquisition

Oct 22, 2026

H.B. Fuller Company issued $850 million in senior unsecured notes to fund its acquisition of Advanced Medical Solutions Group PLC via subsidiary Bidco. This financing replaces the previously arranged Unsecured Bridge Credit Agreement.

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