Listed company transfers its large hospitals! State-owned assets take over

Xi'an International Medical Investment Co., Ltd. announced that it intends to transfer 99% of the equity of Shangluo International Medical Center Hospital Co., Ltd. to Shangluo Jiaotong.

The author | Xiao Xiang

Source| Medical Community (ID: vistamed)

Well-known medical listed companies intend to transfer their large hospitals

On March 8, the listed company International Medical (ST National Medical, 000516) announced that Xi'an International Medical Investment Co., Ltd. (hereinafter referred to as "International Medicine") and Shangluo Transportation Investment and Construction Co., Ltd. (hereinafter referred to as "Shangluo Jiaotong") signed the "Framework Agreement on the Equity Transfer of Shangluo International Medical Center Hospital Co., Ltd. (hereinafter referred to as "Shangluo Hospital"), and International Medical intends to transfer 99% of the equity held in Shangluo Hospital to Shangluo Jiaotong.

According to the announcement, as of December 31, 2021, Shangluo Hospital had total assets of 1.83 billion yuan and total liabilities of 1.52 billion yuan. The hospital achieved an operating income of 126 million yuan and a loss of 129 million yuan in 2021. Within 10 working days from the effective date of the agreement, Shangluo Exchange and Investment will pay 20 million yuan to International Medicine as a deposit for the transaction.

The announcement also revealed that the personnel in the former Affiliated Hospital of Shangluo Vocational and Technical College, the personnel who are regarded as the same as the establishment and the personnel hired, will be coordinated by The Shangluo Municipal Government and other functional departments to properly arrange them. Other employees who agree to work in Xi'an shall be placed in the hospital to which they belong; those who do not agree shall be dealt with in accordance with the Provisions of the Labor Law of the People's Republic of China and other provisions.

The other party to the transaction is Shangluo Jiaotong, a large state-owned enterprise, established in January 2014, among its major shareholders, the State-owned Assets Supervision and Administration Commission of Shangluo Municipal People's Government subscribed to contribute 820 million yuan, accounting for 59% of the company's registered capital; China Development Bank Development Fund Co., Ltd. subscribed to contribute 460 million yuan, accounting for 33% of the company's registered capital, and Shangluo City Construction Investment and Development Co., Ltd. subscribed to contribute 40 million yuan, accounting for nearly 3% of the company's registered capital. China Agricultural Development Key Construction Fund Co., Ltd. subscribed to contribute 60 million yuan, accounting for 4.3478% of the company's registered capital.

The hospital that was restructured seven years ago is expected to be controlled by state-owned assets

According to public information, Shangluo Hospital was formerly known as the Second People's Hospital of Shangluo City, also known as the Affiliated Hospital of Shangluo Vocational and Technical College. Seven years ago, the Second People's Hospital of Shangluo City was restructured and expanded into Shangluo Hospital, and now, Shangluo Hospital is expected to return to state-owned holdings.

According to a previous announcement by International Medicine, on May 22, 2015, International Medicine signed the "Shangluo International Medical Center Project Investment and Construction Contract" and "Cooperation Agreement" with the People's Government of Shangluo Municipality and Shangluo Vocational and Technical College in Shaanxi Province, and the cooperation content is that International Medicine funded the construction of a tertiary first-class hospital, that is, Shangluo International Medical Center. Shangluo Vocational College cooperates with the company with intangible assets such as goodwill and team. The project is the relocation and expansion of the Second Municipal Hospital, and after completion, the Affiliated Hospital of Shangluo Vocational and Technical College and the Second People's Hospital of Shangluo City are added.

The two sides agreed to transform the Second People's Hospital of Shangluo City into a standardized community hospital of about 100 beds on the original site after the project was completed and put into operation, and operate as a secondary branch of Shangluo International Medical Center.

According to the announcement, the Affiliated Hospital of Shangluo Vocational and Technical College (also known as the Second People's Hospital of Shangluo City) is a comprehensive second-class hospital, which was founded in the 1970s. As of the signing of the cooperation agreement, the hospital had 300 beds and 500 beds. In 2013, the hospital achieved business income of more than 70 million yuan, with an annual outpatient volume of nearly 80,000 person-times; in 2014, the hospital's business income exceeded 80 million yuan, with an annual outpatient volume of 86,000 person-times.

It is understood that Shangluo Hospital officially opened in March 2021, with a total investment of 3 billion yuan in the hospital, an investment of 1.798 billion yuan in the hospital, a total construction area of 220,000 square meters, and 1,800 hospital planning beds.

In the face of difficulties, two of its hospitals were suspended for three months

According to the "Medical Community", not long ago, two hospitals under International Medicine were required to suspend for three months, and the current suspension period has not ended, and the announcement of the sale of hospital equity has once again attracted the attention of the industry.

According to public information, there are three hospitals under the umbrella of International Medicine, namely Xi'an International Medical Center Hospital, Xi'an International Medical High-tech Hospital (hereinafter referred to as Xi'an High-tech Hospital) and Xi'an International Medical Shangluo Hospital.

Among them, Xi'an High-tech Hospital is one of the earliest private hospitals in China, which passed the top three evaluation in 2009, with a maximum number of 1500 beds and more than 2400 staff. Xi'an International Medical Center Hospital, which opened in 2019, is a modern comprehensive hospital built in the third-class first-class standard, with a maximum number of more than 5,000 beds, and is known as the largest single medical institution in China.

On January 13 this year, these two medical institutions were instructed by the Xi'an Municipal Health Commission to suspend business for 3 months for rectification due to "mechanical implementation of epidemic prevention and control policies", and reopened after the expiration of the rectification and reform. According to the regulations, this matter triggered the corresponding situation of "other risk warnings for the shares of listed companies being implemented". Since the opening of the market on January 17, the company's stock has been subject to other risk warnings, and the company's stock abbreviation has also been changed from "International Medicine" to "ST National Medicine".

Shortly after being ordered to close business for rectification, International Medicine released a 2021 annual performance forecast, with an estimated annual loss of 735-825 million yuan.

It is understood that as a large-scale comprehensive private hospital group, when the new crown epidemic was the most serious in early 2020, Xi'an International Medicine took the initiative to ask for help, and successively selected 6 batches of 330 respiratory, severe, infectious and cardiology experts from the three major campuses to participate in the national medical team organized by Shaanxi Province, respectively, to support Wuhan Union Hospital, Suizhou Central Hospital, Wuhan Optics Valley Fang cabin and other hospitals, and took over the Eighth Hospital of Wuhan City, which was seriously affected by the epidemic. (This article is published by "Seeing the Medical Community", reprinted with permission, and the author and source are indicated at the beginning of the article.) ）

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