China-focused Concord Medical gets management buyout offer

money

Management has offered to buy Beijing-based radiotherapy and diagnostic firm Concord Medical Services ($CCM) in a $228 million bid.

Jianyu Yang, chairman and CEO of Concord and a finance vehicle he controls, Morgancreek Investment Holdings, along with Blue Ocean Management, made the July 11 privatization offer of $5.19 for each of the 9 million American Depositary Shares. That amounted to a 34% premium to the previous day's closing price for the 19% stake the firm didn't hold.

In addition to the Carlyle investment, Solar Honor also has shares.

Infographic

[Infographic] Machine Learning, Statistics and Optimizing Outcomes

In our infographic, we outline the potential of fusing machine learning and statistics algorithms together to more efficiently analyze clinical trial data output and ultimately revolutionize clinical research.

NYSE-listed Concord Medical has plans afoot to add to its services by developing its own cancer hospitals under the name Meizhongjiahe. One unit has already opened in China and more are planned to augment its income from contracts with 74 hospitals in China.

The expansion, and a related effort to grow a medical tourism business out of a hospital the company owns in Singapore, form the backbone of a management plan to grow as China opens up to more private medical care.

China has approved and encouraged private hospital investment as a way to provide greater depth of therapeutic services and to take pressure off an often overwhelmed public network.

Carlyle has been a major player in the space, most recently as part of a group in March that saw Meinian Onehealth Healthcare buy Ciming Health Checkup Management for $415 million as part of a move to consolidate medical exam and disease screening services in China.

- here's the release

Related Articles:
Carlyle-backed Meinian Onehealth snaps up Ciming for $415M
Chinese political body wants more progress on hospital reforms

Read more on

Suggested Articles

Think you’re busy? Take a look at Pfizer’s commercial team for oncology, which is currently juggling eight launches. And that’s just in the U.S.

Opioid lawsuits from cities, counties and states have left legal experts confused about next steps, and a "negotiating class" proposal isn't…

For years, Roche’s blockbuster oncology troika dominated sales stateside and abroad. For Herceptin and Avastin, those landmark years could be over.