(Alliance News) - Medica Spa announced Monday that it has increased its stake in Medico MedTech Co. Ltd, reaching 32 percent.

Medico MedTech is a trading company based in Suzhou, China, whose majority shareholder is Suzhou Huisheng Medical Science & Technology Co. Ltd.

The increase in shareholding is consequent to the fulfillment of a number of conditions in the previous agreement, allowing Medica to increase its stake from 20 percent to 32 percent of Medico MedTech's share capital.

Medica's stock closed Monday at par at EUR27.20 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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