PhoenixBio Co., Ltd. (TSE:6190) agreed to acquire KMT Hepatech Inc. from a group of shareholders for CAD 5.5 million on November 14, 2017. KMT Hepatech will become wholly owned subsidiary of PhoenixBio. For the fiscal year ended December 2016, KMT Hepatech reported net assets of CAD 1.7 million, total assets of CAD 1.9 million, sales of CAD 0.69 million, operating income of CAD 0.61 million and net income of CAD 0.18 million. The transaction is expected to complete in December 1, 2017.