Hywin and life to infinity
SHANGHAI, China, Aug. 05, 2022 (GLOBE NEWSWIRE) — Hywin Holdings Ltd. (“Hywin” or the “Company”) (NASDAQ: HYW), a leading independent provider of wealth management services in China, today announced that it has entered into a series of definitive agreements to transfer of shares and capital increase with Beijing iLife3 Technology Co. Ltd (“Life Infinity”), a leading provider of integrated health management services in China, and its existing shareholders with a total amount of over of RMB 140 million to acquire a majority stake in Life Infinity, in order to expand into the rapidly growing health management market in China.
The Company expects the transaction to close by the end of August 2022, subject to customary closing conditions. Following completion of the transaction, Life Infinity will be accounted for as a consolidated subsidiary of the Company.
Over the past decade, China’s healthcare industry has grown by double digits to become a multi-trillion dollar market. With growing wealth and an aging society, health management has become a priority for the families of Hywin clients in China, and a pressing topic for their wealth management advisors. Hywin, as a leading wealth manager with a wealthy clientele across Greater China, has been keenly aware of clients’ needs in the area of health management and the significant value that can be created in their satisfaction. . After a multi-year research effort in the health management industry, Hywin has accumulated solid expertise in this field, as evidenced by the importance of health topics in daily conversations with our customers, as well as the launch recent FactSet Hywin Global Health Care Index. , which was inspired by Hywin’s insights into the healthcare management industry.
“This transaction is the natural culmination of Hywin’s intellectual efforts in the field of health management, and fully meets the needs of customers,” said Ms. Wang Dian, CEO of Hywin. “We are thrilled to take this exciting new step with Life Infinity and bring its well-established health management offerings to affluent clients in Greater China. This acquisition represents another important step in our strategic plans to unlock the growing value of our It also makes Hywin the first independent wealth manager in China to integrate wealth and health into a holistic proposition, with cross-selling opportunities and cost synergies that occur naturally with the wealth-health continuum.
Mr. Lawrence Lok, Chief Financial Officer of Hywin, added, “Hywin’s more than 1,600 relationship managers and 178 service centers in 88 cities across Greater China provide a solid infrastructure to present health management ideas to our customers and to introduce them to health management solutions. . The health management business will expand Hywin’s revenue streams and further strengthen our relationships with our customers. The complementarity of wealth and health will ensure our shareholders capture the value of the two most important systemic needs of China’s affluent population. Such an evergreen franchise will produce sustainable returns for shareholders. »
Chen Li, Founder and Chairman of Life Infinity, said, “Over the past 10 years, Life Infinity has been dedicated to improving people’s quality of life through regenerative and preventive medical care and management. top quality healthcare. Health and wealth are inherently similar – crucial, complex, and private. Both services are built on long-term trust and can deliver lasting value, and require service providers to uphold fiduciary duties and professional dedication. This collaboration is a natural convergence and marks a new era for both companies. We see immediate and long-term synergies between branding, customer service, solution delivery and profitability. This should enable both parties to deliver more services and products to more customers, ultimately accelerating our growing and getting more returns. We look forward to working closely with our colleagues at Hywin on this transformative journey.”
About Hywin Holdings Ltd.
Hywin (NASDAQ: HYW) is a leading independent wealth management service provider in China, specializing in providing asset allocation advisory services and comprehensive financial products to high net worth clients. The Company’s main services are wealth management, asset management and other comprehensive financial services. Wealth management is currently the company’s largest business segment, in which its onshore and offshore solutions platforms serve clients of all generations. For more information, please visit https://ir.hywinwealth.com.
About Beijing iLife3 Technology Co. Ltd
“Beijing iLife3 Technology Co. Ltd” is a leading provider of integrated medical services and health management solutions for affluent and wealthy customers in China. The company’s flagship brand, Life Infinity, is a market leader specializing in health management, anti-aging solutions and aesthetic medicine. Life Infinity’s mission is to curate and deliver world-class healthcare technologies, expertise and products in China. Life Infinity operates clinics in Beijing, Shanghai, Chongqing and other key cities in China, as well as digital medical platforms and the “Life Infinity Plus” marketplace for health management products. Life Infinity is highly regarded in the industry and is vice president of China Anti-Aging Promotion Association. Life Infinity is the exclusive health management provider recommended by The magazine for Chinese entrepreneursand won “Best Anti-Aging Medical Services Establishment” by The family business magazine as well as the “Best Performance Award for Anti-Aging and Cancer Screening & Prevention Solutions” by The Hurun Report.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by terms such as “anticipate” , “estimate”, “forecast”, “plan”, “project”, “potential”, “continue”, “ongoing”, “expect”, “aim”, “believe”, “intend of”, “may”, “should”, “will”, “is/are likely”, “could”, and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statements except as required by applicable law.
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