ad_1]
SHANGHAI, China, Aug. 05, 2022 (GLOBE NEWSWIRE) — Hywin Holdings Ltd. (“Hywin”, or the “Firm”) (NASDAQ: HYW), a number one unbiased wealth administration service supplier in China, immediately introduced that it has entered right into a sequence of definitive share switch agreements and capital enhance settlement with Beijing iLife3 Expertise Co. Ltd (“Life Infinity”), one of many main built-in well being administration service suppliers in China, and its present shareholders with an mixture quantity of over RMB140 million to amass a controlling fairness curiosity in Life Infinity, to broaden into the quickly rising well being administration market in China.
The Firm expects the transaction to be accomplished by the tip of August 2022, topic to customary closing situations. Following the completion of the transaction, Life Infinity will likely be accounted for as a consolidated subsidiary of the Firm.
During the last decade, China’s healthcare sector has been rising at a double-digit tempo to grow to be a multi-trillion-dollar market. With rising affluence and an ageing society, well being administration has grow to be a precedence for the households of Hywin purchasers in China, and a urgent subject for his or her wealth administration advisors. Hywin, as a number one wealth supervisor with a high-net-worth consumer base throughout Better China, has been aware of consumer wants within the well being administration house and the numerous worth that may be created of their achievement. After a multi-year analysis effort on the well being administration sector, Hywin has accrued sturdy experience on this house, evidenced by the prominence of well being matters in day by day conversations with our purchasers, in addition to the current launch of the FactSet Hywin International Well being Care Index, which was impressed by Hywin’s insights on the well being administration sector.
“This transaction is the pure fruits of Hywin’s mental efforts within the well being administration house, and really a lot in response to consumer wants,” stated Madame Wang Dian, Chief Govt Officer of Hywin. “We’re thrilled to take this thrilling subsequent step with Life Infinity, and to ship its well-established well being administration choices to high-net-worth purchasers in Better China. This acquisition represents one other milestone in our strategic plans to unlock rising worth from our huge consumer franchise. This additionally makes Hywin the primary unbiased wealth supervisor in China to combine wealth and well being into one holistic proposition, with cross-selling alternatives and price synergies that naturally happen together with the wealth-health continuum.”
Mr. Lawrence Lok, Chief Monetary Officer of Hywin, added: “Hywin’s over 1,600 relationship managers and 178 service facilities throughout 88 cities in Better China present a powerful infrastructure for introducing well being administration concepts to our purchasers in addition to presenting well being administration options to them. The well being administration enterprise will broaden Hywin’s sources of revenues and additional strengthen our consumer relationships. The complementarity of wealth and well being will guarantee our shareholders seize worth from the 2 most essential and systemic wants of China’s prosperous inhabitants. Such an evergreen franchise will produce evergreen shareholder returns.”
Chen Li, Founder and Chairman of Life Infinity, commented: “Over the previous 10 years, Life Infinity has devoted to enhancing folks’s high quality of life via regenerative and preventive medical care, and premium well being administration. Well being and wealth are intrinsically comparable – essential, advanced, and personal. Each providers are constructed on long-term belief and might present lasting worth, and require the service suppliers to uphold fiduciary duties {and professional} devotion. This collaboration is a pure convergence, and marks a brand new period for the 2 corporations. We see quick in addition to long-term synergies throughout branding, consumer service, resolution supply and price effectivity. It’s anticipated to allow each events to supply extra providers and merchandise to extra purchasers, in the end rushing up our development and attaining extra returns. We look ahead to working intently with our Hywin colleagues on this transformative journey.”
About Hywin Holdings Ltd.
Hywin (NASDAQ: HYW) is a number one unbiased wealth administration service supplier in China centered on offering asset allocation advisory providers and complete monetary merchandise to high-net-worth purchasers. The Firm’s main providers are wealth administration, asset administration, and different complete monetary providers. Wealth administration is presently the Firm’s largest enterprise section, wherein its onshore and offshore resolution platforms serve purchasers throughout generations. For extra info, please go to https://ir.hywinwealth.com.
About Beijing iLife3 Expertise Co. Ltd
“Beijing iLife3 Expertise Co. Ltd” is a number one supplier of built-in medical providers and well being administration options for prosperous and high-net-worth purchasers in China. The corporate’s flagship model, Life Infinity, has been one of many market leaders specializing in well being administration, anti-aging options, and aesthetic medication. Life Infinity’s mission is to curate and ship world-class well being applied sciences, experience and merchandise in China. Life Infinity operates clinics throughout Beijing, Shanghai, Chongqing and different key cities in China, in addition to digital medical platforms and the “Life Infinity Plus” market for well being administration merchandise. Life Infinity is very regarded within the business, and holds the vice chair of the China Anti-Ageing Promotion Affiliation. Life Infinity is the unique well being administration supplier beneficial by The China Entrepreneur Journal, and has gained the “Finest Anti-Ageing Medical Providers Establishment” by The Household Enterprise Journal in addition to the “Finest Efficiency Award for Anti-Ageing and Most cancers Screening & Prevention Options” by The Hurun Report.
Protected Harbor Assertion
This press launch incorporates statements which will represent “forward-looking” statements pursuant to the “secure harbor” provisions of the U.S. Personal Securities Litigation Reform Act of 1995. These forward-looking statements will be recognized by terminology resembling “anticipate,” “estimate,” “forecast,” “plan,” “mission,” “potential,” “proceed,” “ongoing,” “count on,” “intention,” “imagine,” “intend,” “might,” “ought to,” “will,” “is/are prone to,” “might” and comparable statements. Statements that aren’t historic info, together with statements in regards to the Firm’s beliefs, plans, and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Additional info concerning these and different dangers is included within the Firm’s filings with the SEC. All info supplied on this press launch is as of the date of this press launch, and the Firm doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant legislation.
Hywin Investor Contact:
Hywin Holdings Ltd.
Electronic mail: ir@hywinwealth.com
Hywin Media Contact:
ICR, LLC
Electronic mail: HywinPR@icrinc.com
A photograph accompanying this announcement is out there at https://www.globenewswire.com/NewsRoom/AttachmentNg/b2cd6496-a791-4ba2-9a5f-4990f2cf209d
