By: Waffle
Produced by: Bright Company
According to the ‘Bright Company’ news, Douyin Group further increased its shareholding in Beijing Meizhongyihe Medical Management (Group) Co., Ltd., and the new shareholder Xiaohe Health Hong Kong Co., Ltd. accounted for 69.5%, which is the same as the previous shareholder Xiaohe Health. Technology (Beijing) Co., Ltd. holds a total of 100% of the shares.
According to the National Enterprise Credit Information Publicity System, on June 24, Meizhongyihe added a new shareholder, Xiaohe Health (Hong Kong) LIMITED (Xiaohe Health Hong Kong Co., Ltd.), with a shareholding ratio of 69.5%, which is smaller than the previous shareholder. The 30.5% of the shares held by Holland Health Technology (Beijing) Co., Ltd. are added together for a total of 100% of the shares.
Both Xiaohe Health Technology (Beijing) Co., Ltd. and Xiaohe Health Hong Kong Co., Ltd. are affiliated to related companies under ByteDance. Xiaohe Hong Kong was established in Hong Kong Special Administrative Region of China in December 2021 and is the main shareholder of Xiaohe Health.
According to the disclosure documents of the Second Antitrust Enforcement Division of the State Administration for Market Regulation, Xiaohe Health (Hong Kong) Co., Ltd. (“Xiaohe Hong Kong”), Bronzite Gem Limited and CPP Investment Board Private Holdings (4) Inc. and signed the “Equity Transfer Agreement”, stipulating that Xiaohe Hong Kong acquires a total of 41.49% of the equity of Beijing Meizhong Yihe Medical Management (Group) Co., Ltd. (“Meizhong Yihe”). Before the transaction, Mid-China Yihe was not controlled by any shareholders. After the transaction is completed, Xiaohe Hong Kong and its affiliated entities will hold a total of 59.07% of the equity of Meizhong Yihe, and independently control Meizhong Yihe.
Relevant documents show that the case has been unconditionally approved after publicity.
According to its group, Meizhong Yihe, established in 2006, is a professional women’s and children’s hospital for middle and high-end customers across the country, providing one-stop obstetrics, gynecology, pediatrics, assisted reproduction, postpartum rehabilitation, postpartum recuperation, and medical beauty. It has 7 women’s and children’s hospitals, 2 comprehensive outpatient centers and 5 confinement centers, covering the three major regions of Beijing-Tianjin-Hebei, Yangtze River Delta and Pearl River Delta.
In April 2020, Meizhong Yihe Medical completed the acquisition of Beijing Baodao Maternity Hospital, and has an IVF business license in Beijing.
In the same year, ByteDance officially began to enter the health field. In September 2021, Xiaohe Health, a wholly-owned subsidiary of ByteDance, invested in Meizhong Yihe, holding 17.58% of the shares. It is the old shareholder of Ningbo Hangzhou Bay New Area Renbaoyuan Wangtus Technology Service Equity Investment Center (Limited Partnership) and Tianjin Xinmei Hekang Technology Partnership (Limited Partnership), both of which are companies of the Tus Department of Tsinghua University.
In September 2021, Wu Haifeng will be added to the seats of directors (council members), managers and supervisors of US-China Yihe. On June 24 this year, Sun Wenyu, Zhao Pengyuan, Zhang Lidong and He Shanshan were added to the seats of directors (council members), managers and supervisors of US-China Yihe. Zhang Lidong is currently the chairman of Beijing ByteDance, and the rest of the new staff are also ByteDance-related employees.
At the end of 2020, ByteDance established an aurora department dedicated to the big health business, led by Wu Haifeng to report to ByteDance Global CEO Zhang Yiming. The unit’s business is branded as “Xiaohe Health”.
In the previous layout of the medical and health track, ByteDance has also invested in the central nervous system field with offline physical psychological clinics and the mental and psychological Internet medical service platform Good mood, and oncology multidisciplinary consultation platform Hongda Airui.
Meizhong Yihe is a leading player in the private medical industry with international high-end private women’s and children’s hospitals, and a leading player in the mid-to-high-end market share such as regional coverage and number of hospitals.
The further increase in stake this time also means the in-depth construction of the layout of ByteDance’s offline medical service sector.
It is worth mentioning that the completion of this acquisition transaction also means that the original shareholders such as Sino-Ocean Capital, WuXi AppTec, Huaxing Capital, and Guoke Investment have realized their withdrawal.
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