Fosun Pharma And TPG To Acquire Chindex

Shanghai Fosun Pharmaceutical and TPG will acquire Chindex International for approximately $394 million.

Asian Scientist (Feb. 25, 2014) – A consortium comprising Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and TPG, a global private investment firm, will acquire Chindex International, Inc., an American healthcare company providing services in China for approximately $369 million.

Chindex provides services in China through the operations of United Family Healthcare, a network of private primary care hospitals and affiliated ambulatory clinics. United Family Healthcare currently operates in Beijing, Shanghai, Tianjin and Guangzhou. The merger agreement will result in Chindex becoming a private company.

Roberta Lipson, a founder and the CEO of Chindex, said, “Bringing in the expertise of TPG and Fosun will be a win for our existing business, our expansion plans and the patients and communities we serve and hope to serve.”

“Over the last 15 years, Chindex has built its United Family Healthcare network into a premium brand, but we believe that new partners and committed financing are needed to achieve the next phases of these plans, including new facilities in our current service locations as well as significant geographic expansion.”

Completion of the transaction is subject to approval by stockholders of Chindex and Shanghai Fosun Pharmaceutical and approval under Chinese antitrust laws. The transaction is expected to close in the second half of 2014.

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Source: Chindex International.
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