BETHESDA, Md., September 30, 2014 /PRNewswire/ -- Chindex International, Inc. ("Chindex" or the "Company") (Nasdaq: CHDX) today announced the completion of its acquisition by Healthy Harmony Holdings, L.P. ("Healthy Harmony") for $24.00 per share in cash. Healthy Harmony is an affiliate of TPG, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun") and Ms. Roberta Lipson, the CEO of the Company.
The previously announced merger agreement was adopted by Chindex's stockholders at a special meeting of stockholders held on September 16, 2014. As a result of the merger, Chindex is now a privately held company, owned by Healthy Harmony, and Chindex's common stock will be delisted from NASDAQ.
Morgan Stanley & Co. LLC served as financial advisor and Hughes Hubbard & Reed LLP served as lead legal advisor to the Transaction Committee of the Board of Directors of Chindex in connection with the merger. Goldman, Sachs & Co. served as financial advisor, Cleary Gottlieb Steen & Hamilton LLP served as lead legal advisor, and Fangda Partners served as PRC counsel to TPG. Troutman Sanders LLP served as Fosun's legal advisor. Skadden, Arps, Slate, Meagher & Flom LLP served as lead legal advisor to Ms. Lipson.
About Chindex
Chindex is an American health care company providing health care services in China through the operations of United Family Healthcare, a network of private primary care hospitals and affiliated ambulatory clinics. United Family Healthcare currently operates in Beijing, Shanghai, Tianjin and Guangzhou. The Company also provides medical capital equipment and products through Chindex Medical Ltd., a joint venture company with manufacturing and distribution businesses serving both domestic China and export markets. With more than thirty years of experience, the Company's strategy is to continue its growth as a leading integrated health care provider in the Greater China region. Further Company information may be found at the Company's website at http://www.chindex.com.
About TPG
TPG is a leading global private investment firm founded in 1992 with $66 billion of assets under management and offices in San Francisco, Fort Worth, Austin, Dallas, Houston, New York, Beijing, Hong Kong, London, Luxembourg, Melbourne, Moscow, Mumbai, Sao Paulo, Shanghai, Singapore and Tokyo. TPG has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, growth investments, joint ventures and restructurings. The firm's investments span a variety of industries including financial services, travel and entertainment, technology, energy, industrials, retail, consumer, real estate, media and communications, and healthcare. Chindex is an extension of TPG's history of investing in and adding value to leading healthcare services platforms in Asia and globally, including our investments in Parkway, Healthscope and Surgical Care Affiliates. TPG's past and present investments in China include China Grand Auto , China International Capital Corporation, Daphne, HCP Holdings, Lenovo, Li Ning, Phoenix Satellite Television, Shenzhen Development Bank (currently Ping An Bank) and UniTrust. For more information, please visit www.tpg.com.
About Fosun Industrial
Fosun Industrial, a wholly-owned subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd, was established in 2004 and registered in Hong Kong. Mr. CHEN Qiyu is the Chairman of the company. Fosun Industrial is principally engaged in foreign investment, the sales and consultation service of Chinese and Western medicine, diagnostic reagent and pharmaceutical equipment and related import and export business.
Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma") holds 100% equity interest in Fosun Industrial. Fosun Pharma (stock code: 600196-SH ,02196-HK) is a leading healthcare company in China established in 1994 and listed on the Shanghai Stock Exchange and main board of The Stock Exchange of Hong Kong in August 1998 and October 2012, respectively. It is engaged in various businesses including pharmaceutical manufacturing, distribution and retail, healthcare services and diagnostic products and medical devices. Please visit www.fosunpharma.com for further information.
Safe Harbor Statement
Statements made in this press release relating to plans, strategies, objectives, economic performance and trends and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, the factors set forth under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2013, updates and additions to those "Risk Factors" in the Company's interim reports on Form 10-Q, Forms 8-K and in other documents filed by us with the Securities and Exchange Commission from time to time. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue" or similar terms or the negative of these terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance or achievements. The Company has no obligation to update these forward-looking statements.
For more information, please contact:
Chindex International Inc.
ICR, LLC
William Zima
In U.S.: +1 646-308-1472
In China: +86 (10) 6583-7511
Email: william.zima@icrinc.com
TPG
Brunswick Group Limited
Siobhan Zheng
Email: tpgcoreasia@brunswickgroup.com
Tel: +852 9131-5202
Christina Pantin
Email: tpgcoreasia@brunswickgroup.com
Tel: +852 9166-3697
Shanghai Fosun Pharmaceutical (Group) Co., Ltd
Angel Yi
Email: yijy@fosunpharma.com
Tel: +86 21 23138089
Mobile: +86 13817029841
