Ascendent Capital Announces Successful Exit of Suzhou Yongding Hospital
In April 2021, Ascendent Capital Partners announced the completion of the sale of Suzhou Yongding Hospital. As Ascendent Capital exits this investment, we look forward to seeing Yongding Hospital go from strength to strength with its specialties and competitive advantage and continue providing outstanding treatment and support to its patients.
Since investing in Yongding Hospital in 2014, Ascendent Capital has been actively involved in the operation and management of the hospital, bringing in high quality external medical resources, improving the quality of existing medical services, and transforming Yongding Hospital to a leading general hospital in the region. Yongding Hospital has worked jointly with the First Affiliated Hospital of Suzhou University to build key departments, grow its medical teams, bring in leading experts, promote interconnected development of medical and surgical departments, and establish five medical units – stroke center, surgery center, oncology center, thoracic center, and geriatric center.
John Wang, a Partner of Ascendent Capital, commented, “As a shareholder of Yongding Hospital, we are honoured to witness the growth of the hospital during the past seven years of our partnership. From the expansion of the second phase inpatient building to the investment in medical equipment, clinical specialties, and human capital, Ascendent Capital and the hospital management team have improved the facilities and strengthened the team, and initiated department level cooperation with many first-tier hospitals in Shanghai and Suzhou. Hygeia Healthcare is a leading player in the oncology healthcare sector in China. We are delighted to witness Hygeia Healthcare’s value-added acquisition of Yongding Hospital, which will be crucial to the group’s expansion in Jiangsu.”
Yiwen Zhu, Vice Chairperson and Founder of Hygiea Healthcare, commented, “We focus on both organic growth and strategic acquisitions, expanding in regions with high population density and high demand to oncology medical services, especially radiotherapy, and improving hospitals through delicacy management and the strengthening of clinical capabilities. Yongding Hospital is located in the center of the Yangtze Delta, a prosperous region with strong purchasing power and continued population growth. The investment in Yongding Hospital is part of our development strategy to address the insufficient supply of oncology services, especially radiotherapy, and meet the demand of patients.”
About Ascendent Capital Partners
Ascendent Capital Partners is a private equity investment management firm focused on Greater China-related investment opportunities, managing over USD 2 billion in assets for global institutional investors including sovereign wealth funds, endowments, pensions and foundations.
ACP has successfully led and executed a large number of innovative and ground breaking private equity investments in China, generating strong risk-adjusted returns for investors and value growth for our portfolio companies. ACP has established a consistent track record in providing advice and solution capital to entrepreneurs and business owners in the region, building long-lasting relationships through in-depth collaboration. For addition information about ACP, please visit ACP’s website at www.ascendentcp.com.
For further information about this transaction, please contact:
Ascendent Capital Partners
Tel: +852 2165 9000
Fax: +852 2165 9090
About Suzhou Yongding Hospital
Suzhou Yongding Hospital is a first-tier general hospital with medical, education, research, disease prevention, sanatorium, and rehabilitation services. Yongding Hospital covers an area of 65,000 square metres and has 1,000 hospital beds, making it the largest privately-owned hospital in the region. Yongding Hospital has spent 10 years to build a stable operation and a comprehensive healthcare network, severing 1.3 million residents in the region.
About Hygeia Healthcare
Hygeia Healthcare is the largest oncology healthcare group in China. As a healthcare group focusing on oncology service, Hygeia is committed to providing more accessible and affordable healthcare services, addressing the unsatisfied demand of oncology patients in China.