One Equity Entering China

One Equity Partners has reached an agreement to invest $69.6 million in China Medicine, a Chinese distributor of pharmaceutical and medical products. The investment would take the form of an equity private placement, with One Equity purchasing 4 million of the company's shares at $3 per share and 1.9 million of it redeemable convertible preferred shares at $30 per share. The deal will be One Equity's first in China.