China Resources Group and Phoenix Medical officially fit together: establish Asia's largest medical service group
Following the conclusion of the terms and conditions with China Resources Group in early April, today (August 30), Phoenix Medical announced that it has implemented a sales contract today, involving a total consideration of 3.722 billion yuan, and a full purchase of Ample Mighty Limited, a medical institution engaged by Huarun Medical. Limited. The required consideration will be paid at a price of 8.04 yuan per share (a 37.7% discount to the previous closing price) of approximately 463 million shares of the consideration, representing 35.7% of the enlarged share capital.
After the transaction is completed, China Resources Medical will become the largest shareholder of Phoenix Medical, and the company will be renamed as China Resources Phoenix Medical Holdings Co., Ltd. ("China Resources Phoenix"). China Resources Phoenix's board of directors will maintain 11 directors, 4 of whom are independent non-executive directors, and China Resources Medical will have the right to appoint 4 directors. The settlement of the transaction agreement will be completed completely after the parties have met certain conditions as a precondition for the transaction.
According to the announcement, Guangxiong is a wholly-owned subsidiary of China Resources Medical. Guangxiong operates and manages four non-profit hospital groups (including three sub-living institutions) and one for-profit clinic (collectively referred to as the “standard hospitalâ€. "), four of the non-profit hospital groups are China Resources WISCO Hospital Group ("Wugang Hospital"), Huaibei Miners General Hospital Group ("Huai Mine Hospital"), Xuzhou Mine Hospital ("Xu Mine Hospital") and Guangdong Sanjiu Brain Hospital ("Brain Hospital"), the for-profit outpatient department is Sanjiu Medical Clinic (Shenzhen) Co., Ltd. The target hospital consists of 44 medical institutions, all of which are designated units for medical insurance. As of December 31, 2015, the total number of open beds was 5,809. In 2015, the number of outpatients reached 2.39 million, and the number of hospitalizations reached 154,000. In 2015, the standard hospitals realized a total operating income of RMB 2.43 billion and a net profit of RMB 182 million.
According to public information, Phoenix Medical was listed on the Main Board of Hong Kong in 2013 and became the first Chinese hospital group listed in the international capital market. As of the end of 2015, Phoenix Medical invested in 60 medical institutions in the Beijing-Tianjin-Hebei region, including 3 tertiary hospitals, 6 secondary hospitals, 9 first-level hospitals and 42 community medical institutions. The total open bed is about 5780. Zhang.
China Resources Medical has or manages 47 medical institutions and 3 pension institutions. Among the 47 medical institutions, there are 4 tertiary hospitals, 6 secondary hospitals, 25 first-level hospitals and 12 community medical institutions. All hospitals and clinics are designated units for medical insurance. The total number of approved beds in these medical institutions is 4,954. The actual number of open beds is about 6,000. The total number of beds approved by the above-mentioned pension institutions is 300. The total medical income in 2015 reached approximately RMB 2.41 billion.
According to the number of existing hospitals and beds, China Resources Phoenix will operate a total of 107 medical institutions and 3 old-age institutions, including 7 tertiary hospitals, 12 secondary hospitals, 34 first-level hospitals and 54 community medical institutions. The actual number of open beds in medical institutions is about 11,780, which will become one of the largest medical service groups in Asia based on the number of operating beds.
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