Ikang Guobin privatization countdown

The privatization process of Ikang Guobin, which has been put on hold for a long time, has a new look. On the evening of March 12, Ikang Guobin issued an overseas announcement saying that the Special Committee had received a privatization offer from Yunfeng Fund and Alibaba. Yunfeng Fund and Alibaba are currently negotiating with certain major shareholders to obtain Support for potential privatization transactions previously proposed by Yunfeng Fund and discuss the possibility of participating in privatization.

In 2015, Ikang Guobin opened the road to privatization. This is less than 18 months since Ikang Guobin was listed as the “China’s first medical examination” on NASDAQ. Zhang Kanggang, chairman and CEO of Aikang Guobin, said in an internal mail, "Although China's capital market is in a trough, the decision to privatize Aikang is a decision after careful consideration. It is to bring Aikang into the future and build more Big platform decision making."

It is understood that Aikang Guobin is jointly established by Aikang.com and Shanghai Guobin Health Inspection. It is a health management company specializing in physical examination. It provides personal and group medical examination, testing, medical treatment , family doctor, chronic disease management, health insurance and so on. Personalized service. According to public data, China has more than 6,000 health management (physical examination) institutions at present, and the market is conservatively estimated to be 80 billion yuan. However, due to historical reasons such as China's medical system, most of the market share is still concentrated in public hospitals. The market for the organization has a huge imagination.

However, the road to privatization of Ikang Guobin did not go smoothly. In 2015, after a consortium composed of Zhang Ligang and Fangyuan Capital, preparing to privatize Aikang Guobin at a price of US$17.8/ADS, the US-America Health and the Beijing Redwood Kunde Investment Management Center and other investment institutions sent to Ikang Guobin. Issue a privatization offer and raise the price twice to raise the privatization offer to $25/ADS. In response to the blockade from the health of the United States, Ikang Guobin threw out the “poison pill plan”, and any individual or group that received 10% or more of the A-King A class common stock would trigger the “poison pill plan”, and any acquirer would A tender offer (over-the-counter purchase above market price) or other form of public announcement of a 50% or more share of Aikan Guobin Class A common stock will also trigger a “poison pill plan”. Once the “poison pill plan” is triggered, the acquisition cost will be further raised.

Aikang Guobin and the "healing fire" of the United States and the United States have been temporarily calmed down by the intervention of Ma Yun's Yunfeng Fund. In June 2016, Ikang Guobin announced that it had received a privatization offer from Yunfeng Fund. Subsequently, Zhang Ligang and Mei Nian Health Chairman Yu Rong successively announced the withdrawal of the privatization offer of Aikang Guobin, and Yunfeng Fund became the only bidder for the privatization of Aikang Guobin.

For Alibaba's re-launch, an analyst who did not want to be named told the Beijing Business Daily that the completion of the acquisition also meant that Aikang Guobin completed the privatization. "This acquisition proposal can be seen as Aikang Guobin using Ali to carry out the tender offer and collect some shares of the shareholders. The privatization of Ikang Guobin can only be done by itself, but may be affected by financial resources and may be between shareholders. Did not reach a better bargaining price, and now Ali gave a better bargaining price, shareholders should be able to accept this offer on the premise of accepting this offer. This does not rule out that some shareholders may still have not reached an agreement, but later operation It will be a lot easier," said the analyst. In response to the privatization offer and the future development strategy of Aikang Guobin, the Beijing Business Daily reporter contacted the relevant person in charge of Aikang Guobin. The person in charge said that all the company announcements shall prevail. (Beijing Business Daily, Guo Xiujuan)

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