Is the future maternity hospital a vent? Why did ByteDance spend tens of billions on Jardine Matheson?

Recently, Internet giant ByteDance became the main holding company of Jardine Matheson in the United States and China. Prior to this, Xiaohe Medical invested in Jardine Matheson in the United States in September 2002/KLOC-0 and China in June 2022. According to industrial and commercial data, after this capital increase, ByteDance will successfully own 0/00% of the shares of US-China/KLOC, with a registered capital of1300 million yuan. In previous rounds of financing, Jardine Matheson has accumulated hundreds of millions of funds. In 20 19, the fund invested nearly 5 billion yuan. Even judging from the asset valuation of Jardine Matheson after the epidemic, this acquisition can be said to be at a lower price. ByteDance's acquisition of Jardine Matheson in the United States and China has aroused widespread concern in the industry.

Harmony between the United States and China

Harmony between the United States and China is really a good piece of tofu. After years of hard work in the industry, the development path of the US-China Yihe Group has become clearer and clearer, insisting on regional development, focusing on economically developed areas such as the Yangtze River Delta, the Pearl River Delta and North China, from the development of obstetrics and gynecology, pediatrics and other main businesses to other postpartum rehabilitation and comprehensive outpatient services, especially in the field of assisted reproduction, which has become increasingly popular in recent years. In April, 2020, US-China Yihe completed the merger and acquisition in Beijing Bao Dao Hospital, and obtained the permission of in vitro fertilization in Beijing. This is a good condition, because it is difficult to apply for the qualification of assisted reproduction, and the most important thing is in vitro fertilization. This industry has a high threshold, high gold content and few private institutions. The United States and China are in harmony. In addition to Beijing, Tianjin also has a test-tube baby license.

It is reported that Jardine Matheson started its capital operation on 20 12. Prior to this, there have been eight times of financing, including dozens of famous enterprises such as Huaping Capital, Gaoyou Capital, Huaxing Capital and Wuxi PharmaTech. In the field of women and children, Jardine Matheson is the best in the United States and China. In addition to providing all-round professional services and leading position in the field of obstetrics and gynecology, Hulan also has expertise in medical treatment and investment, which is also valued by ByteDance. Hulan is a doctor of medicine studying abroad. She used to work as a well-known Wall Street investment bank in JPMorgan Chase, USA, and she is very familiar with hospital operation and fund management, so the cooperation with her will be smooth.

The new transportation giant: ByteDance.

? As a new traffic company, ByteDance can rely on traffic to quickly transfer traffic to the United States and China. The potential of high-end customers is suitable and lacking in the United States and China during the current epidemic. The development of maternity institutions requires not only sufficient financial resources, but also sufficient patience. However, due to the decrease of market potential and the reduction of the number of hospitals, the life of maternity hospitals has not been easy in the past two years, and the internal and external competition has become increasingly fierce. Compared with the "craze for women and children", the capital's confidence in the market has also been shaken. For example, in 200213, the withdrawal of American medical care and the decline of medical care in the new century, which once had a brilliant market value of 4 billion, now it is the turn of the United States and China to come to this step.

Is the field of obstetrics and gynecology a slogan?

Even so, the development prospect in the field of women and children is still very optimistic. The population policy will have a great influence. The high proportion of two or three children means that "repeat customers" occupy a large proportion in the field of women and children, and the comprehensive group of women and children will be the main market. Capital and industry have also accelerated the pace of mergers and acquisitions. Jin Xin was born in 202 1 and 10, and acquired assets such as Jin Xin Maternal and Child Health Hospital for 3 billion yuan. In June, Dehong Capital controlled Meihua Medical, and now, it is a merger between the United States and China.

With the decrease of obstetric income, assisted reproduction will become the main force.

? According to official website of the National Health and Wellness Committee, from 20 16 to 20021year, the number of medical institutions approved to use human assisted reproductive technology in China increased to 539, but there are still few private institutions with licenses. After Jardine Matheson completed the acquisition of Bao Dao Maternity Hospital, Hulan said: Jardine Matheson's maternity business has been reduced by half. Bao Dao Hospital was bought by them, which means that the improvement of the status of the United States and China in the field of assisted reproduction is harmonious. The assisted reproductive industry that is suitable for the United States and China and is about to enter seems to be "beautiful", but the real commercial operation is not easy. Moreover, midwifery is very strictly controlled. Although there are policies to encourage childbearing, the company will still have certain limitations in the process of development.

As a high-end women's and children's hospital, the United States and China have tried several times to go public without success. After the acquisition of Beijing Bao Dao Obstetrics and Gynecology Hospital in 2020, the United States and China Yihe obtained a very rare in vitro fertilization license. It is very likely that this time, ByteDance will invest huge sums of money to buy the harmony between the United States and China, and perhaps it will occupy a place in assisted reproduction.

The pharmaceutical industry is a long-term investment. Whether the purchase price of ByteDance10 billion is the first step to enter the medical industry or the price of going astray, and whether it is worth it, it will take time to verify.