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Bio Green Med Solution, Inc. Announces Closing of Strategic Acquisition of Fitters Sdn. Bhd. Kuala Lumpur, Malaysia

Key Takeaway: Bio Green Med Solution, Inc. has successfully closed the acquisition of Fitters Sdn. Bhd., a Malaysian-based company specializing in fire safety equipment. This strategic acquisition allows Bio Green Med to diversify its operations beyond pharmaceuticals into the fire protection sector. The deal was validated by stockholder approval and has resulted in Fitters being integrated as a wholly-owned subsidiary. CEO Datuk Dr. Doris Wong noted the potential for exploring new opportunities and creating long-term value for shareholders through this integration.

Market Sentiment Analysis

POSITIVE FACTORS

  • Bio Green Med Solution acquired Fitters Sdn. Bhd., enhancing their portfolio.
  • The transaction diversifies the company's business into fire safety products.
  • CEO Datuk Dr. Doris Wong expressed optimism about future opportunities.

CONCERNS & RISKS

  • Risks related to integration of Fitters and realization of anticipated benefits.
  • Potential litigation could arise related to the acquisition.

Full Press Release Details

Green Med Solution, Inc. Announces Closing of Strategic Acquisition of Fitters Sdn. Bhd.
Lumpur, Malaysia, September 12, 2025 (GLOBE NEWSWIRE) - Bio Green Med Solution, Inc. (Nasdaq: BGMS, Nasdaq: BGMSP) ("Bio Green
Med" or the "Company"), a company engaged in diversified industries, today announced that it has closed the previously
announced transaction (the "Exchange Transaction") to acquire Fitters Sdn. Bhd. ("Fitters"), a Malaysia private
limited company and wholly-owned subsidiary of FITTERS Diversified Berhad, a Malaysian publicly listed company ("Fitters Parent").
Following the closing of the Exchange Transaction, which was approved by the Company's stockholders during a Special Meeting that
took place on September 4, 2025, Fitters became a wholly-owned subsidiary of the Company and Datuk Dr. Doris Wong Sing Ee, our Chief
Executive Officer and Executive Director was appointed to the board of directors of Fitters and all of its subsidiaries.
specializes in the supply and trading of protective and fire safety equipment. It is headquartered in Kuala Lumpur, Malaysia, and provides
a wide range of fire safety products, including fire extinguishers, foam system, fire-resistant doors, personal protective equipment,
and fire safety apparel. Fitters' mission is to deliver high-quality, certified safety solutions that enhance protection across
commercial, industrial, healthcare, and residential sectors. Its focus on trading and distribution positions it as a key player in Malaysia's
fire safety market, with a reputation for reliability and compliance with stringent regulatory standards. Over the past four decades,
Fitters has expanded its product portfolio to include advanced fire-fighting equipment, foam system, personal protective equipment, and
safety apparel, establishing a strong presence in the industry.
the Exchange Transaction, the Company has diversified its business portfolio by adding fire protection and safety products and services
to its ongoing business interests in the pharmaceutical sector. As a result of the Exchange Transaction, the Company changed the ticker
symbols for its common stock and preferred stock from CYCC and CYCCP, respectively, to BGMS and BGMSP, respectively. The Company's
securities will continue to trade on the Nasdaq. No action is required by the Company's stockholders with respect to the ticker
symbol change. The Company's CUSIP numbers, the unique identifier for the security, will remain unchanged.
are pleased to complete this transaction, which diversifies our business and represents an important milestone in our corporate development,"
said Datuk Dr. Doris Wong, Chief Executive Officer of Bio Green Med. "By integrating Fitters' established operations while
continuing to maintain our presence in pharmaceuticals, the Company is positioned to explore opportunities across multiple industries
and create long-term value for shareholders."
GREEN MED SOLUTION, INC.
10, Tower 11, Avenue 5, No. 8, Jalan Kerinchi, Kuala Lumpur, Malaysia 59200
+1 (908) 955 0526 E: info@bgmsglobal.com
to the previously announced share exchange agreement (the "Exchange Agreement"), among the Company, Fitters and Fitters Parent,
at closing the Company issued 699,158 shares of its common stock to FITTERS Diversified Berhad equal to 19.99% of the issued and outstanding
shares of the Company's common stock, in exchange for all of the issued and outstanding equity interests of Fitters. As a result
of the Exchange Transaction, Fitters became a wholly owned subsidiary of the Company. The exchange consideration was determined in accordance
with the Exchange Agreement and as disclosed in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC").
Bio Green Med Solution, Inc.
Green Med Solution, Inc. (formerly Cyclacel Pharmaceuticals, Inc.) is a diversified company engaged in both the fire protection and biopharmaceutical
industries. Building on its legacy in pharmaceutical research and development, the Company has expanded its business portfolio through
the integration of Fitters Sdn. Bhd., a Malaysia-based group specializing in fire protection products and services. Headquartered in
Malaysia, Bio Green Med Solution, Inc. is focused on advancing opportunities across these distinct sectors while maintaining its commitment
to driving long-term value creation for shareholders. For additional information, visit www.bgmsglobal.com.
specializes in distributing, trading and installing various protective and fire safety materials and equipment and fire protection and
prevention systems with a reputation for reliability and compliance with stringent regulatory standards.
Operates as a "ONE-STOP" Protective Clothing Specialist and distribution of fire retardant uniforms and supplier of Scotchlite reflective material.
Headquartered in Kuala Lumpur, Malaysia, Fitters provides a wide range of fire safety products, including fire extinguishers, foam system, fire-resistant doors, personal protective equipment (PPE), and fire safety apparel
Mission is to deliver high-quality, certified safety solutions that enhance protection across commercial, industrial, healthcare, and residential sectors.
and Legal Advisors to the Transaction
Group Limited is acting as exclusive financial advisor to Bio Green Med with Rimon, P.C. (Washington, DC) serving as Bio Green Med's
legal counsel. Messrs. Ong, Ric & Partners, Advocates & Solicitors (Kuala Lumpur) is serving as legal counsel to Fitters Parent
statements contained in this press release may be considered forward-looking statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995, including statements regarding its diversification into the fire protection and safety sector, the integration
and future performance of Fitters and the Company's ongoing business interests in the pharmaceutical sector. Forward-looking statements
generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words
such as "may," "will," "should," "would," "expect," "anticipate,"
"plan," "likely," "believe," "estimate," "project," "intend,"
and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking
statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future
GREEN MED SOLUTION, INC.
10, Tower 11, Avenue 5, No. 8, Jalan Kerinchi, Kuala Lumpur, Malaysia 59200
+1 (908) 955 0526 E: info@bgmsglobal.com
results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without
limitation: (i) the ability of the Company and Fitters to integrate their businesses successfully and to achieve anticipated synergies;
(ii) the possibility that other anticipated benefits of the transaction will not be realized, including without limitation, anticipated
revenues, expenses, earnings and other financial results, and growth and expansion of the combined company's operations, and the
anticipated tax treatment of the combination; (iii) potential litigation relating to the proposed transaction that could be instituted
against the Company, Fitters, Fitters Parent or their respective directors; (iv) the ability of the Company and Fitters to retain, attract
and hire key personnel; (v) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties
resulting from the completion of the transaction; (vi) potential business uncertainty, including changes to existing business relationships,
during the integration of Fitters that could affect the Company's or Fitters' financial performance; (vii) certain restrictions
during the integration of Fitters that may impact the Company's or Fitters' ability to pursue certain business opportunities
or strategic transactions; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic
events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management's response to
any of the aforementioned factors; and (x) such other factors as are set forth in the Company's periodic public filings with the
SEC, including but not limited to those described under the heading "Risk Factors" in the Company's Form 10-K for the
fiscal year ended December 31, 2024.
risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor
can management assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected
in the forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements.
Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You
should not rely upon forward-looking statements as predictions of future events. Except as required by applicable law, the Company undertakes
no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result
of new information, future events or otherwise.
more information, please contact:
Green Med Solution, Inc.
GREEN MED SOLUTION, INC.
10, Tower 11, Avenue 5, No. 8, Jalan Kerinchi, Kuala Lumpur, Malaysia 59200
+1 (908) 955 0526 E: info@bgmsglobal.com

Frequently Asked Questions

What is the recent acquisition by Bio Green Med Solution, Inc.?

Bio Green Med Solution announced its acquisition of Fitters Sdn. Bhd., enhancing its business portfolio.

When was the acquisition of Fitters completed?

The acquisition was finalized on September 12, 2025, following stockholder approval.

What does Fitters Sdn. Bhd. specialize in?

Fitters specializes in protective and fire safety equipment, serving various sectors.

What ticker symbols changed after the acquisition?

The company's ticker symbols changed from CYCC and CYCCP to BGMS and BGMSP.

Who is the CEO of Bio Green Med Solution?

Datuk Dr. Doris Wong Sing Ee is the CEO of Bio Green Med Solution, Inc.

Last updated: Sep 12, 2025