New Century Healthcare Completed the Acquisition of Chengdu New Century's Equity Interest and Strategically Invested in the Equity of Chiron Healthcare

The board of directors of the Company announces that the acquisition of 85.0% equity interest of Chengdu New Century for a cash consideration of RMB200.0 million has been completed, and Chengdu New Century also completed the alteration registration with the relevant administration of industry and commerce and obtained the new business license on August 10, 2018.

In addition, on August 4, 2018, NCH Marvel Investment (BVI) Limited, a wholly-owned subsidiary of the Company, entered into the share subscription agreement and other investment documents with Chiron Healthcare to subscribe the shares of Chiron Healthcare (the "Investment"). The Investment has been recently completed. Upon completion, the Group held 10.1% equity interests in Chiron Healthcare.

Chiron Healthcare Group is one of the major private specialized healthcare groups in Hong Kong, focusing on provision of holistic medium to high-end specialty healthcare services covering many departments including oncology, cardiology, general surgery, ear, nose & throat (otorhinolaryngology), orthopaedics and traumatology, obstetrics and gynecology, geriatrics, paediatrics, ophthalmology, urology and subfertility. Chiron Healthcare Group has a strong healthcare network made up of well-known specialist doctors, and operates a number of clinics in Hong Kong, including its large flagship clinics in Central and Tsim Sha Tsui. Chiron Healthcare Group has established in-depth cooperation with many famous private hospitals, major insurance companies and healthcare service platforms in Hong Kong. Apart from specialty outpatient and surgical services, Chiron Healthcare Group also provides healthcare management services including physical examination, physiotherapy and rehabilitation as well as vaccination for adults and children.

Mr. Jason Zhou, Chairman of New Century Healthcare commented, "Leveraging on our respective strengths in medical resources, network and management capability, the Group and Chiron Healthcare Group will carry out in-depth cooperation in many aspects, including but not limited to cross-border healthcare services (including oncology/specialty consultation, vaccination and medical services for women and children as well as assisted reproductive services, etc.), two-way referral services between Mainland China and Hong Kong, knowledge sharing in medical technology and trainings and medical institution management. We look forward to achieving synergies by complementing each other's advantages and improving the quality of our healthcare services. Moreover, the strategic investment in and cooperation with Chiron Healthcare Group are in line with the business development strategy and plan of the Group, that is to enhance the healthcare network presence of the Group in the Guangdong-Hong Kong-Macao Greater Bay Area, expand the coverage of specialty healthcare services for women and children, and further expand and extend the New Century brand in the Greater China Region."

Topic: Press release summarySectors: Daily Finance, Daily News, HealthCare^[1][2][3] http://www.acnnewswire.com From the Asia Corporate News Network

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References

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