Company announcement:
The company announced that the subsidiary Cancer Hospital Management Co., Ltd. and Peking University Medical Industry Fund intend to jointly launch a fund, which will contribute US $41.23 million through overseas investment. To increase capital and purchase all or part of the shares of Xinli Hospital Group held by Xinli Hospital Group, NEA Capital and China Health, and acquire 65% of the shares of Xinli Hospital Group.
Event comments:
The closed loop of the whole industry chain of oncology medical service is formed. As we analyzed in the in-depth report "Beijing Medical aircraft Carrier moving forward", the company distributes oncology services through three steps: oncology drugs, oncology diagnosis (integrated medical care) and oncology hospital. This acquisition is to pocket the core assets of high-end cancer hospitals, which can be called the end of 2014, gradually realizing the strategic layout of the company's oncology medical services, and building a "Peking University Department" oncology medical service brand.
Locate the high-end tumor diagnosis and highlight the quality of medical service. The new mileage Cancer Hospital has set up nearly 20 clinical departments and research centers, equipped with global advanced large-scale medical equipment, and provides personalized early tumor examination, comprehensive treatment, telemedicine, international consultation and 24-hour consultation and appointment services. According to the service system of the new mileage hospital, it is positioned as an international cancer diagnosis and treatment service platform from the very beginning, serving the high-end cancer patients, formulating a set of comprehensive diagnosis and treatment programs for patients from early diagnosis to hospice care, and ensuring the timeliness of treatment through follow-up feedback through various links.
Make full use of shareholder resources, the follow-up transformation of medical services can still be expected. The new mileage hospital acquired by the company was originally jointly set up by Peking University Cancer Hospital and New mileage Hospital Group, so the company made full use of the hospital resources of the medical department of Peking University. In this acquisition, Peking University Medical Industry Fund and Cancer Hospital Management Company also played an important role through skillful capital operation, the company has a strong shareholder background, a huge amount of hospital resources, and the company's medical service business space can not be underestimated.
Profit forecast and valuation. Assuming that all-in-one Healthcare is consolidated in the middle of 15 years, the company's net profit for 14-16 years is predicted to be 87.21 million, 177 million and 304 million, and EPS is 0.15,0.24 and 0.41 yuan, maintaining the "buy" rating.