SINGAPORE / ACCESSWIRE / July 20, 2023 / Symposia Group Pte. Ltd (Symposia) - a startup incubator based in Singapore and Taipei - is thrilled to declare its definitive asset acquisition agreement with Point Wellness, Inc. (Point). The agreement centers on the acquisition of the Moxa App (Moxa) business.
James Luong, Director of Symposia, shares his enthusiasm: "We are excited about the potential of Moxa to help bring Chinese medicine to the mainstream natural wellness. Our relationships with potential partners across APAC can accelerate the growth that Alan and the Point Wellness team have started for Moxa, and expand the business further, reaching more people in need of these services."
Alan Li, CEO of Point, affirms the promising future of the partnership: "After deliberations with James and understanding his vision for Moxa, we are delighted to conclude an agreement with Symposia for Moxa's acquisition. We eagerly anticipate Moxa's continued journey in enhancing people's lives, and we are committed to facilitating a smooth transition over the upcoming months."
As part of the agreement terms, Symposia pledges to uphold all existing partnerships with acupuncture providers and pricing agreements for existing clients. The commitment will be upheld at minimum for the duration of their current subscription or for six months following the transaction closure, whichever is longer. Additionally, the Point team will extend its support after the transaction closes to assure a smooth transition for all stakeholders involved.
This acquisition adds to Symposia's existing diverse portfolio of innovative, high-growth businesses. As an early-stage incubator, Symposia's key aim is to mold raw concepts into feasible and disruptive products and services.
The deal is slated for completion in the third quarter of 2023, pending regulatory approvals and standard closing conditions.
About Moxa
Moxa is the number one iOS acupressure app with over 100,000 sessions played. Moxa takes you on a journey to wellness and self-care with Traditional Chinese Medicine (TCM) from the convenience of your home. With 150+ guided, easy-to-follow acupressure sessions created by licensed and board-certified acupuncturists, Moxa walks you through the ancient practice of acupressure to relieve stress and anxiety, manage chronic pains, and address common ailments, including migraines, sleep disorders, and respiratory and immune system issues.
Learn more about Moxa at https://moxa.care.
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Symposia Group Pte. Ltd.
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SOURCE: Symposia Group Pte Ltd.