Listed pharmaceutical companies want to buy hospitals, but also need calm objective analysis!

[pharmaceutical network market analysis] with the continuous promotion of policies such as the separation of pharmaceutical companies and the two vote system, many pharmaceutical companies are under pressure in terms of performance, and are starting to "find another way" by transforming other fields Although the strategy itself is indisputable, many pharmaceutical companies that have acquired hospitals have been "implicated" by hospitals in recent years In this regard, the industry said that the return period in the medical field is long and it is difficult to obtain rich returns in a short period of time, so the acquisition of listed pharmaceutical companies needs calm and objective analysis For example, on April 26, Yingkang life announced that the company has completed the acquisition of 51% equity of Chongqing huajianyoufang hospital Co., Ltd held by Xie Xiangxian, with a total value of 133 million yuan This will help the company to continue to expand the medical and health industry It is also another important measure for Yingkang life to lay out the medical and health service industry in Southwest China since it acquired 75% equity of friendship hospital and 100% equity of Hangzhou Zhongwei hospital In addition, Jiaying pharmaceutical invested in kangci hospital in March this year, with a total investment of 35.31 million yuan After the capital increase, Jiaying dahealth held 18.55% of the equity of kangci medical The company said that on the one hand, it is to accelerate the layout of Jiaying pharmaceutical in the field of medical services, accumulate experience and lay a foundation for the investment and establishment of hospitals On the other hand, the company wants to make full use of the capital market to inject strategic resources for kangci medical, meet its capital needs and business needs, and realize the effective integration and coordination of the development and planning of both sides At the same time, some pharmaceutical companies began to sell hospitals For example, on January 17, Xianju pharmaceutical released a notice that it planned to transfer all the equity of the subsidiary in the hospital due to the inconsistency between the long-term development strategic direction of the oral medical service industry and the company Why transfer the hospital? According to the pharmaceutical company, the main reason is that the long-term development strategic direction of the oral medical service industry is inconsistent with that of the company The transfer is to optimize the asset structure, further integrate resources and focus on the main business In fact, from the perspective of financial data, the hospital did not bring good returns to Xianju pharmaceutical As of August 31, 2018, the total assets of the hospital were 8.6975 million yuan, the total liabilities were 3.203 million yuan, and the net assets were 5.4972 million yuan The operating income is 3.1595 million yuan, the operating profit is - 1.305 million yuan, the net profit is - 1.118 million yuan, and the net cash flow from operating activities is - 913800 yuan According to the industry, the medical industry is a heavy asset industry The capital construction and large-scale medical equipment in the operation of hospitals need a lot of funds to support the operation At the same time, the hospital has a strong regional nature, many hospitals are serving the local people, so after being acquired, it is difficult to significantly improve the operating income in the short term In addition, most of the hospitals invested by listed pharmaceutical companies are general hospitals, so it needs a lot of investment and a long return period to rebuild the brand However, specialized hospitals focus on some departments, especially in brand building, which has more advantages Therefore, compared with general hospitals, specialized hospitals may have better investment options In general, there is no problem in the strategy of listed pharmaceutical enterprises to transform, but the consideration of purchasing hospitals still needs objective and calm analysis Do not "buy and buy" for a while In the end, the purchasing party becomes "hot potato", which will affect the company's performance growth.