PE-Backed IKang Healthcare Acquires Shanghai Huajian Health


NASDAQ-listed Chinese private medical service provider iKang Healthcare Group, Inc. has acquired Shanghai Huajian Health Checkup Center, according to Chinese news report.

The deal size and specific details of the investment are not disclosed.

Founded in 2008, Shanghai Huajian Health Checkup Management Co. currently operates three health checkup centers in Shanghai.

IKang Healthcare Group, Inc. is the largest provider in China’s fast growing private preventive healthcare services market, accounting for approximately 12.3% of market share in terms of revenue in 2013.

Last April, iKang received about US$100 million from Goldman Sachs and Singaporean sovereign fund GIC in China’s largest investment in the healthcare industry.

IKang completed a US$153 million NASDAQ IPO this April, allowing its private equity backers including NewQuest Capital Partners to realize partial exits.

 

 

RELATED NEWS