(Yicai Global) Jan. 29 -- China's leading medical exam provider Meinian Onehealth Healthcare Holdings will cooperate with Shanghai-based Guosheng Haitong Equity Investment Fund and Haitong Securities in investment, financing, strategic support and other areas.
Meinian has struck an agreement with the two to invest in it and hold 5 percent of its shares, with the parties' contract valid for three years, the Shanghai-headquartered health checker announced on Jan. 25.
Guosheng Haitong does not rule out joining Meinian's board of directors post-investment. Shanghai's Municipal State-Owned Assets Supervision and Administration Commission is Guosheng Haitong's actual controller.
Haitong Securities will supply a package of specialized financial services to Meinian, including private placements, mergers and acquisitions, asset restructuring, domestic and overseas bond issues, financing and leasing, industrial funds and investment and wealth management. Meinian will prioritize Haitong Securities and its units as provider of these services.
Shareholders of Guosheng Haitong include Shanghai Guosheng Group (55.54 percent shares), Shanghai Haitong Securities Asset Management Company (22.22 percent), Shanghai State-owned Enterprise Reform and Development Equity Investment Fund (11.11 percent), Shanghai Electric (Group) (11.11 percent) and Shanghai Guosheng Capital Management (0.02 percent), the company's corporate registration shows.
The Shanghai SASAC holds a total of 64.72 percent stake in Haitong Guosheng.
Guosheng Haitong and Haitong Securities' investment in Meinian will probably be completed by block trading, after which Guosheng Haitong will join Meinian's board of directors, and comprehensively cooperate with it in future.
Meinian's is expected to partner with more industry peers in health and artificial intelligence aided by the Shanghai SASAC, said a medical sector analyst with China International Capital in Beijing.
Editor: Ben Armour