On 17 January, 2018, Shanghai Everjoy Health Group Co., Ltd. (hereinafter referred to as "Everjoy Health") was approved by the Merger and Reorganization Review Committee of China Securities Regulatory Commission, to acquire assets by issuing shares.
Everjoy Health is the leading enterprise in the domestic architectural ceramic manufacturing industry and in recent years it has gradually expanding its core business to health sector by integrating medical treatment with health care. This transaction is the most important business move in the transformation strategy way to healthcare sector. In the deal, Everjoy Health intends to purchase 100% equity of three private hospitals, which are Sihong County Fenjinting Hospital Co., Ltd, Quanjiao Tongren Hospital Co., Ltd. and Jianchang County Chinese Medicine Hospital Co., Ltd. by issuing shares. The transaction amount is around 899 million Yuan in total. In the deal, Everyjoy Health simultaneously raises supporting funds by private placement of no more than 383,984,500 Yuan for the relevant constriction projects of the three target hospitals. After completion of this transaction, Everjoy Health will control and operate three mature hospitals and initially achieve multi-core business pattern of three pillars in architectural ceramic manufacturing, eco-friendly construction materials and healthcare industry.
Llinks, as the legal counsel of Everjoy Health, participated in analyzing the whole scheme of M&A, did due diligence on the target companies, drafted transactional documents, issued legal opinions to CSRS.
