Davis Polk is advising China Biologic Products Holdings, Inc. (“CBPO”) in connection with its acquisition of 80% equity interest in Tianxinfu (Beijing) Medical Appliance Co., Ltd. from PW Medtech Group Limited, a company listed on the Hong Kong Stock Exchange. As consideration for the acquisition, CBPO will issue new ordinary shares to PWM with a transaction value in the amount of approximately $513 million. Upon the closing of the transaction, PWM is expected to hold approximately 16.66% of CBPO’s outstanding share capital. The transaction is subject to customary closing conditions, including approval by the shareholders of PWM.
CBPO is a leading fully integrated plasma-based biopharmaceutical company in China. Headquartered in Beijing, CBPO manufactures over 20 different dosage forms of plasma products, which are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. Tianxinfu is a medical device company in China primarily engaging in manufacturing and sale of regenerative medical biomaterial products, including artificial dura mater and spinal dura mater products. Tianxinfu has an extensive nationwide distribution network with distributors covering the major provinces in China.
The Davis Polk corporate team includes partners Howard Zhang and Paul Chow, counsel Terrence R. O’Donnell and associate Kai Sun. Members of the Davis Polk team are based in the Beijing and Hong Kong offices.