10 April 2017, advised by King & Wood Mallesons (KWM), IHH Healthcare Berhad (IHH), Asia’s largest and the world’s second largest listed healthcare operator, officially completed its cross-border financing transaction, with a total amount of over RMB1.1 billion invested by Taikang Insurance Group, Inc. (Taikang Insurance) for an equity stake in IHH’s subsidiary PCH Holding Pte. Ltd. (ParkwayHealth China), which primarily focuses on IHH’s business in China. The project is a representative cross-border investment project in China’s healthcare industry.

IHH is a leading international provider of healthcare services, listed on the Bursa Malaysia (Bursa) and the Singapore Stock Exchange (SGX). ParkwayHealth China, a wholly-owned subsidiary of IHH with hospitals and clinics in China, is one of the largest foreign-invested healthcare services providers in the country. Taikang Insurance is a large insurance financial services group focusing on insurance, asset management and healthcare services. The funds in this transaction will be mainly used for developing ParkwayHealth China's hospitals and clinics in China, leveraging the strengths of IHH and TIG in their respective areas of healthcare and insurance, placing ParkwayHealth China on a stronger growth path in China.

KWM acted as PRC counsel for IHH, providing legal services in the whole process of the project, and played a key role in pushing the project forward and successfully completing the deal. The performance of the team has been fully recognized and highly praised by the client. The project was led by partners Song Ruiqiu and Mark Zhang.

Song Ruiqiu commented, “We are pleased to assist IHH again in completing a typical cross-border investment project. KWM has long provided legal services for IHH's business in China, including its dual listings in Singapore and Malaysia, the establishment or acquisition of a number of joint venture healthcare institutions in China and the reorganization of their domestic healthcare assets. With a deep understanding of and rich experience in relevant regulatory policies and regulations, including healthcare, insurance and many other industries, we have followed the strategic development of our clients at different stages and help them achieve their commercial objectives.”