A consortium composed of TPG, management and Shanghai Fosun Pharmaceutical has agreed to take Chindex International (NASDAQ: CHDX) private in a transaction with an implied equity value of roughly $369 million. Chindex is an American healthcare services provider that operates in China through a network of private primary care hospitals and affiliated ambulatory clinics.
Under the deal's terms, the consortium will acquire all of Chindex's outstanding shares for $19.50 per share in cash, an approximate 14% premium over current market price. CEO Roberta Lipson, who is also a part of the consortium, will remain in her position. Fosun will reportedly contribute $193.7 million to Chindex International and up to $45 million in Chindex's medical equipment unit, increasing its overall stake to 49% while TPG will hold a 48% stake.