Largest private psychiatric hospital IPO: annual revenue of 400 million, three years 16 deaths

with two years ago & other; Concept of mental illness throughout the first stock &; Listed in Hong Kong, corning hospital in wenzhou, is now A sprint to A shares.

on December 22, wenzhou kangning hospital co., LTD. (hereinafter referred to as & other; Corning throughout the hospital &;) In the CSRC’s official website of the IPO beforehand to disclose the list.

the prospectus shows that corning hospital plans to raise 193 million yuan of money, the money will into hospital in new construction, expansion, and training center.

this specialized subject hospital, founded in 1996 the spirit of disease, as of June 30, 2017, the company’s actual operating 10 private hospital, eight medical institutions and management, is currently the nation’s largest private psychiatric hospital group, market share, the second in the nation.

wenzhou psychiatric hospital doctors resigned founded kangning hospital

& have spent

prospectus, according to the current kangning hospital holding more than 5% of shareholders GuanWei respectively made, telford fund, king red crescent, lian. GuanWei made with lian month spouse relationship, lian month red crescent is a sisterhood with the king. GuanWei holds a 25.12% stake, lian month holds a 5.20% stake, king red crescent holds a 5.46% stake. In addition, the legal person share the east fu fund with a 21.06% stake. GuanWei state and their spouses lian month total holding company 22.14475 million shares, accounting for 30.32% of the company’s total equity, controlling shareholders and actual controllers for the company.

the data shows, corning, founder and chairman of the hospital set in 1987 after graduating from wenzhou colleage in1992.and GuanWei, was assigned to wenzhou psychiatric hospital as a doctor. 1996, GuanWei resign from wenzhou psychiatric hospital, and then Mrs. Lian month (at that time is the nurse of mental hospital in wenzhou) founded kangning hospital, initial just 50 beds.

seventy percent income from a hospital

& have spent

prospectus, according to corning hospital’s main business covers: diagnosis and treatment and other medical services and sales management services for other medical institutions and drug products.

in terms of revenue, corning hospital achieved sustained growth in recent years, from 2013 to 2016, its operating income of 226 million yuan and 296 million yuan respectively, 344 million yuan and 415 million yuan, net income increased year by year, 36.1942 million, 51.1986 million, 5162.19 and 65.551 million yuan respectively.

2014-2016 and June 1, 2017, the company integrated gross margin was 38.98%, 38.06%, 34.51% and 38.98% respectively, a downward trend. Corning hospital, said the payment due to mental patients rely more on health care, so compared with ophthalmology, dental and other specialized medical institutions, specialist mental health institutions gross margin level is relatively low.

according to Frost& Sulivian research report, according to the group in 2016 revenue, corning hospital group is China’s largest private psychiatric hospital, whole psychiatric medical market, ranking second in China. As of June 30, 2017, corning hospital actual operating 10 private hospital, eight medical organizations, and management of the company’s actual operating their own beds, 3050, the management of the data of 1100.

kangning hospital’s main income comes from drug sales and medical services, two business accounted for 25.33%, 69.81% respectively. Due to higher gross profit margins and treatment services, so also promote the company’s overall gross margin to maintain at a high level. In the single business of hospital, the gross profit margin on its management services was high to 77.39% in 2014, but it dropped to 48.34% the following year.

it is important to note that although the corning hospital group has grown to a hospital, but the group’s main revenue comes from wenzhou a corning hospital. , according to data from 2014-2016 and 2017, June 1 – wenzhou kangning hospital sales of drugs and diagnosis and treatment and other medical services accounted for the current company sales of drugs and diagnosis and treatment and other medical services of the total share of 75.34%, 70.76%, 67.91% and 70.76% respectively.

kangning hospital in wenzhou in zhejiang province in 2013 by who planning commission assessment for the level of first-class hospital, is currently the only company was rated as first-class ternary domestic private psychiatric hospital.

perennial bed utilization rate by more than ninety percent

& have spent

from corning hospital can also be seen in the prospectus, the present condition of the mental illness class hospital resources nervous.

the prospectus, according to data from 2014 to 2017 in the first half of the corning hospital bed utilization rate is around 90%. And corning hospital in wenzhou, sky kangning hospital, cangnan kangning hospital, always fine kangning hospital and other hospitals in the actual number of beds in operation are well beyond the registration data. Such as always fine kangning hospital, the actual use of the number of beds is almost three times the number of registered. Prospectus, explained in the treatment of mental illness increased demand, a growing demand for beds in the spirit of specialized subject, in order to make more people with mental illness can be timely and effective treatment, the company under the premise of guarantee medical quality and medical safety, put into operation a modest increase in the number of beds, cause beyond the registration data.

kangning hospital that beds tension phenomenon with mental illness industry has developed rapidly in China at present and a serious shortage of related specialized subject hospital.

disclosed in the prospectus, since 2010, the Chinese spirit of specialized subject hospital total remain more than 15% growth, increased from 2010, 16.458 billion yuan in 2015 to 37.745 billion yuan, an average annual compound growth rate of 18.06%. At the same time, the spirit of specialized subject hospital admission number from 2010 in 2010 rose to 2014 in 1.597 million, the compound annual growth rate of 11.3%. Mental hospital diagnosis and treatment is growing number from 20.461 million in 2010 to 2014, 2014 person-time, compound growth rate of 9.7%.

individual patient annual fees of up to 420000

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