Carlyle has bought a controlling stake in Adicon, winning a competitive auction for the Chinese clinical laboratory operator.
The private equity firm invested alongside Meinian Onehealth Healthcare, it said in a statement on Monday. Carlyle acquired a 13.5% stake in Meinian Onehealth Healthcare in 2012.
Last month, Meinian subsidiary Haimei Ai Investment Management signalled its intentions to buy a 5% stake in Adicon for $22 million, valuing the entire company at $440 million. It added that Adicon reported a net profit for the January to June period of Rmb40.8 million $5.9 million making the equity purchase’s valuation look steep.
The Chinese molecular diagnostics market...
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