According to an announcement by the Chinese healthcare technology firm Golden Meditech, the company, through its wholly-owned subsidiary China Bright Group, has acquired a 50% stake in Beijing Pypo, which is a distributor of major brands' mobile phones in China, for US$442 million. Golden Meditech has developed a health sensor which can record a person's health information and can send that information to a mobile phone via Bluetooth technology. The company hopes to use Beijing Pypo's distribution channels to increase the market penetration of its new sensor in China, while also seeing business opportunities among Beijing Pypo's clients. Beijing Pypo has 13 subsidiaries, two branches, and nine representative offices, while employing 2,900 people.