2 September 2021
Clifford Chance advises CVC on strategic investment in pharmaceutical retail chain in China
Leading international law firm Clifford Chance has advised its long-standing private equity client CVC Capital Partners on its strategic investment in Xi'an Yikang Pharmacy, a leading pharmaceutical retail chain in Northwest China with more than 1,600 pharmacies. Through the investment, CVC will help Yikang diversify its medicine categories, improve efficiency of distribution and sales, enhance digitalisation and continue to grow and scale the business. Yikang will use the capital from this investment to further ramp up investment in digitalisation and build a popular smart retail pharmacy brand.
This transaction builds on Clifford Chance's market leading expertise in private equity. The Clifford Chance team was led by China Co-Managing Partner Terence Foo, supported by consultant Julie Fu, associate Yanding He and trainee Jiahong Cai. Partner Yong Bai and senior associate Zibo Liu provided antitrust support. The Clifford Chance team advised on the deal in conjunction with PRC local counsel.
Terence said, "We are pleased to support our client, CVC, on this strategic investment in China's healthcare industry which continues to evolve through the impact of healthcare regulatory reforms, ageing population and digitisation."