China Aier Eye Hospital invests in Huatai Securities’ M&A fund
Shenzhen-listed Aier Eye Hospital Group plans to commit RMB100 million ($16 million) to an M&A fund managed by Huatai United Securities, an investment banking arm of Huatai Securities.
The move comes one week after the hospital group announced it would set up an M&A fund with China Orient Asset Management with a view to bringing about consolidation within the ophthalmology industry.
According to a regulatory filing, the Beijing Huatai Ruilian M&A Fund is targeting a total of RMB1 billion. The fund will look for acquisition opportunities across the medical services, pharmaceutical, technology, media and telecom (TMT), retail and environmental spaces.
Aier Eye Hospital plans to enhance its investment capability in the ophthalmology industry as a means to drive business growth.
Founded in 2003, China Aier operates 50 hospitals in 24 Chinese cities. In the first half of 2013, it posted RMB901 million in revenue, up from RMB742 million during the same period in 2012. Net profit rose 15% to RMB105 million during the period.The company intends to open an additional 150 branches by 2020.
Huatai United Securities has completed about 200 IPOs, rights offerings, private placements and convertible bond issues for Chinese companies, with RMB136 billion in capital raised.
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