DeHeng Advised Hongxiao Technology on the Acquisition
of miVIP Healthcare, a US Medical Management Company

2018-01-12

Recently, Shanghai Hongxiao Technology Co., Ltd. ("Hongxiao Technology"), a company in which Shanghai Hongda Mining Co., Ltd. ("Shanghai Hongda", 600532.SH) holds shares, completed the acquisition and settlement of 80% stake in miVIP Healthcare Holdings, LLC ("miVIP"), a US medical management company. The value of the deal is roughly 300 million USD.

DeHeng Chen LLC in New York, as the US legal counsel of Shanghai Hongda and Hongxiao Technology, is responsible for providing legal services including due diligence on the target company, compliance with regulations in the US healthcare industry, negotiation and drafting of transaction documents, passing the review of the transaction by Committee on Foreign Investment in the United States (CFIUS) and Hart–Scott–Rodino Antitrust Improvements Act (HSR), through the conclusion of transaction. DeHeng's Shanghai Office, as the Chinese legal counsel of Shanghai Hongda and Hongxiao Technology, is responsible for assisting in the filing and approval of the outbound investment, the analysis and verification of transaction structure, and the information disclosure by listed companies. This is one of the few CFIUS-approved acquisition transactions by Chinese-funded companies in the United States in 2017.

DeHeng formed a project team, led by Chen Xiaomin, the chief partner of DeHeng Chen LLC in New York, and Wang Xian'an, partner in the Shanghai office. The team was supported by Jiang Shang, Deborah Yang, Adam Eilenberg, Ted Chastain, James Shorter in the New York office and Zhu Liang and Zheng Wei in the Shanghai office. Both offices cooperated closely to provide efficient, comprehensive, and high-quality legal services for the client in both China and the United States.