Ping An Healthcare And Technology (01833.HK), a Hong Kong listed company, announced on October 23,2022. The Purchaser (i.e. Good Doctor Online Healthcare Limited and Ping an Health Internet Co., Ltd.), both wholly-owned subsidiaries of the Company, entered into the equity transfer agreement with the Vendor (i.e. Scientia Smart Technologies Limited and Ping an International Smart City Technology Co., Ltd.), Seandi Technology (the sole shareholder of the seller) and the Target Company (i.e. Scientia Smart Health Technologies Limited and Ping an Ying Xiang (Jiaxing) Software Co., Ltd.).
Accordingly, (I) the Cayman seller (i.e. Scientia Smart Technologies Limited) agrees to sell and the Cayman buyer (i.e. Good Doctor Online Healthcare Limited) agrees to acquire 100% of the Cayman Target Company (i.e. Scientia Smart Health Technologies Limited) for a consideration of $96.8646 million And (ii) the Chinese seller (Ping an International Smart City Technology Co., Ltd.) agreed to sell, while the Chinese buyer (Ping an Health Internet Co., Ltd.) agreed to acquire a 100% stake in the Chinese target company, Ping an Yingxiang (Jiaxing) Software Co., Ltd., for a consideration of RMB 8.0827 million.
Upon completion of the transaction, the company will hold a 100% stake in the target company. The target company will each become a subsidiary of the company, and the financial performance of the target company will be incorporated into the financial statements of the group.
For this transaction, the company said that the transaction will further assist the company to improve service capacity, enrich product solutions, increase business scenarios, and promote the deepening of the managed health care model. After the reorganization of the target company group, the synergy benefits between the target company group business and the company business are mainly reflected in the following three aspects: (I) supplement of chronic disease services; (ii) improvement of doctors' ability; and (iii) coverage of grass-roots institutions.
Through this transaction, the company will further improve the professionalism and service efficiency of medical services such as family doctor, chronic disease management and specialist auxiliary diagnosis, polish its own service, and promote product innovation. to provide users and enterprise customers with more professional, comprehensive, high-quality, one-stop service to achieve high-quality, standardized and sustainable development.