Global buyout giant Carlyle has dipped into its RMB fund to buy a 13.5 per cent stake in Meinian Onehealth Healthcare, China’s largest private provider of preventive healthcare check-up services.
The deal represents Carlyle’s second investment from Beijing Carlyle Investment Centre LP – a fund set up by Carlyle Asia Partners team with the support of the Beijing Municipal Government -following an investment last year in an undisclosed consumer business.
Financial terms of the deal were not disclosed.
Meinian Onehealth was founded in 2004 and offers general medical examinations, disease screening and value-added services such as doctor referrals and traditional Chinese preventive health services to individual and corporate customers.
The company became China’s largest private provider of preventive healthcare check-up services in 2011, and boasts a network including 83 clinics in 41 cities, around 20 of which will be opened by the end of the year.
“As the Chinese population matures and becomes increasingly aware of the importance of preventive care, there is a strong domestic demand for quality preventive healthcare check-up services,” said Janine Feng, a managing director at Carlyle.
Feng added Carlyle will leverage its healthcare industry expertise to support the company’s business development and expansion plans, develop its service offerings and enhance its position in the fast-growing healthcare industry.
The firm’s current investments in the healthcare space include Concord Medical Service, the largest woundless medical service network in China; Healthscope, the second largest private hospital provider in Australia; Integrated Dental Holdings and Associated Dental Practices, two dental care providers in the UK; Medical Park, a healthcare provider in Turkey; and Qualicorp, a full-service provider of health benefits management services in Brazil.
Carlyle is one of the first global buyout houses to have raised an RMB-denominated fund in the country. To date, the firm’s buyout, growth capital, real estate and RMB funds have invested about $4bn in over 60 deals in China.
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