Report
EUR 88.24
For Business Accounts Only
The company operates its own hospitals, provides third-party radiotherapy service, and manages partner hospitals. The company's recent growth has been driven by ramping up of its self-owned hospitals that were opened during the track record period. Its track record of ramping up newly established hospitals has been stellar. The company also has an ambitious expansion plan for the next three years, including the expansion of existing facilities and establishing greenfield hospitals. We estimate that the expansion of 3 existing hospitals will add 51% GFA and 95-123% bed capacity. Greenfield hospitals will increase GFA and bed capacity by 126% and 214-280% respectively. In addition, the company is backed by reputable healthcare investors.
In this note, we will look at new numbers disclosed in the post-hearing prospectus. We value the company at USD 1.6 bn.
Hygeia Healthcare (æµ·å‰äºš) Pre-IPO - PHIP Updates and Thoughts on Valuation
Hygeia Healthcare Group, a leading oncology specialized healthcare group, started pre-marketing its USD 300 million Hong Kong listing.The company operates its own hospitals, provides third-party radiotherapy service, and manages partner hospitals. The company's recent growth has been driven by ramping up of its self-owned hospitals that were opened during the track record period. Its track record of ramping up newly established hospitals has been stellar. The company also has an ambitious expansion plan for the next three years, including the expansion of existing facilities and establishing greenfield hospitals. We estimate that the expansion of 3 existing hospitals will add 51% GFA and 95-123% bed capacity. Greenfield hospitals will increase GFA and bed capacity by 126% and 214-280% respectively. In addition, the company is backed by reputable healthcare investors.
In this note, we will look at new numbers disclosed in the post-hearing prospectus. We value the company at USD 1.6 bn.
Underlying
Hygeia Healthcare Holdings Co Ltd
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Ke Yan
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