On September 25, Yihua Health announced that its wholly-owned subsidiary, Daxie Xilecon, intends to acquire the chain of Yixi Sanxitang National Medicine Museum and Yiwu Sanxi held by Zhu Zhisheng and Pan Songqin in cash of 514 million yuan. Tang Chinese Medicine Health Center and Yiwu Sanxi Chinese Medicine Research Institute each have 65% equity.
Yihua Health, formerly known as Yihua Real Estate. In 2014, Yihua Real Estate comprehensively transformed the health industry and built the “Yihua Medical Health Industry Ecology Circleâ€. In the three years since the transition, Yihua Health has continued to acquire and expand.
According to public information, in 2017 alone, the company acquired eight hospitals, and in May and July 2018 there were two more M&A transactions. From the 2018 semi-annual report released by Yihua Health at the end of August, it is known that there are 22 hospitals that Yihua Health has controlled or hosted, and the number of hospitalized medical beds is close to 10,000, the number of nursing beds exceeds 2,000, and the domestic beds are 10,000. Will be born again. With this acquisition, Yihua Health has spearheaded the Chinese medicine industry.
The announcement shows that the acquisition of Yiwu Sanxitang National Pharmacy Chain was established in 2002. It is a national GSP certified enterprise, a designated unit of Yiwu medical insurance, and has branches such as Yiwu, Jinhua, Fotang and Yusanli. Its business scope includes Chinese medicine, prescription and over-the-counter retail, medical equipment and fitness equipment. Since 2011, it has been rated as “Zhejiang Famous Trade Nameâ€, “Zhejiang Consumer Trustworthy Unitâ€, “Zhejiang Laozihao†and “Zhejiang Top Ten Medical Centerâ€.
As of December 31, 2017, the total assets of Sanxitang National Medicine Museum chain was 189 million yuan, operating income was 111 million yuan, and net profit was 4.5726 million yuan. As of April 30, 2018, its total assets reached 211 million yuan. In the first four months of this year, its operating income was 56.341 million yuan and its net profit was 6.3148 million yuan.
Yiwu Sanxitang Chinese Medicine Health Center was approved by Yiwu City Health Planning Commission in 2012, and the completion of the restructuring was undertaken by Yiwu Sanxitang Chinese Medicine Health Center Co., Ltd. Its business scope includes internal medicine, women's health, child health, medical and beauty, rehabilitation medicine, medical laboratory, medical imaging, Chinese medicine, internal medicine; obstetrics and gynecology; pediatrics; oncology; acupuncture Professional; Integrated Chinese and Western Medicine.
As of December 31, 2017, Sanxitang Chinese Medicine Health Center has total assets of 210 million yuan, operating income of 103 million yuan, and net profit of 26.24 million yuan. As of April 30, 2018, its total assets reached 213 million yuan. In the first four months of this year, its operating income was 337.594 million yuan and its net profit was 11.514 million yuan.
Yiwu Sanxi Institute of Traditional Chinese Medicine is a private non-profit organization established by Zhu Zhisheng with a personal investment of 300,000. Its main business scope is research and promotion of traditional Chinese medicine. As of April 30, 2018, the Institute's total assets were 17,200 yuan.
It is worth noting that Zhu Zhisheng and Pan Songqin also made a five-year performance commitment in the announcement. The net profit after tax realized in 2018 is not less than 50 million yuan. The net profit growth rate after tax in 2019 and 2020 is not low. At 15%, 12%. In addition, the net profit growth rate after tax from 2021 to 2023 shall not be less than 10%.
The announcement also pointed out that the main business model of the acquisition is “Chinese medicine clinic + pharmacy retailâ€. Yihua Health’s long-standing Chinese medicine brand and Chinese medical culture will help expand the company’s layout in the medical industry. The company officially entered the Chinese medicine industry, which will form a new performance growth point for the company. In addition, the Chinese medicine sector will form complementary industrial synergies with its affiliated hospitals and high-end pension communities, forming a comprehensive medical operation model and creating a new medical pension industry platform.
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