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December 1, 2020updated 03 Dec 2020 3:13pm

BOQI International signs MOU to acquire Chaohu Hospital

Healthcare products provider BOQI International Medical (BIMI) has signed a memorandum of understanding (MOU) to acquire Chaohu Zhongshan Minimally Invasive Hospital (Chaohu Hospital).

Healthcare products provider BOQI International Medical (BIMI) has signed a memorandum of understanding (MOU) to acquire Chaohu Zhongshan Minimally Invasive Hospital (Chaohu Hospital).

Pursuant to this MOU, both the parties have reached a preliminary consensus on mergers and acquisitions.

Under the MOU, BIMI and Chaohu Hospital will share their customer resources and co-develop franchisees and members locally.

Upon completion of the relevant assessment and evaluation of Chaohu Hospital, they agreed to sign a stock purchase agreement.

Founded in 2005, Chaohu Hospital has nearly 200 doctors, minimally invasive technologists, and medical technicians.

Covering an area of more than 100,000ft², the hospital has a six-floor-building providing inpatient and outpatient services.

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It develops minimally invasive techniques such as laparoscopic hysterectomy, ovarian cyst removal, fallopian tube recanalization, and ectopic pregnancy, for obstetrics and gynecology surgeries.

BOQI International Medical CEO and president Tiewei Song said: “With the liberalisation of fertility policy, the prospects for obstetrics and gynecology healthcare is promising.

“BIMI plans to acquire more maternity hospitals, combined with our online healthcare platform, to establish an online-to-offline medical service chain. The service chain plans to include obstetrics and gynecology hospitals, birth centers, and body sculpting institutes, to cope with the increase in healthcare demands.”

Within 73 days after signing the agreement, Chaohu Hospital agreed to cooperate with BIMI’s auditor for completion of the audit work.

BIMI will complete the relevant business procedures for the transaction within one month after signing the agreement.

BOQI International Medical, which was earlier known as NF Energy Saving Corporation, was founded in 2006 and offers a range of healthcare products and related services.

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