The Performance Study Of HengKang Medical Group Merging QiLi Medical

As China’s economy continues to integrate into the process of globalization, competition among domestic enterprises also intensified. Listed companies only through continuous enhance their competitiveness to be able to adapt to the competitive market environment. Today, the company’s development and growth mainly in two ways: one is through their own efforts, and innovative technologies were improving, has reached the enterprise development purposes; the other is via an external expansion, market integration advantages of resources, thereby expanding the business scale. Compared to the former, most companies have chosen the way of mergers and acquisitions. Mergers and acquisitions, has become an important way for enterprises to quickly expand the scale and enhance competitiveness.After the 21 st century, China’s pharmaceutical industry has maintained a rapid pace of development, increasing product variety, gradually increase the level of technology, production scale has been expanded. In recent years, due to population growth, the aging process, the new medical reform policy implementation, the initial formation of universal health care system, the residents ability to pay increased, people’s health needs of the increasing gradually released, pharmaceutical expanding consumer market, China has become the world’s drug One of the fastest growing areas of consumption. However, weak capacity of independent innovation, technological level, product homogeneity, and low concentration of production in the development of China’s pharmaceutical industry has always been present. In order to promote the development of China’s pharmaceutical industry, the government has introduced a series of incentives to promote the integration of medicine platform and put a lot of money for specific measures to reform medicine. October 2013, the State Council issued the Opinions on Promoting the Healthy Development of the service sector. This is the second in 2010 by the State Council issued the Opinions on Encouraging and guide private investment in health development, and another to encourage social capital into a programmatic document medical and other health-related fields. The new issued only for the first time a clear connotation and denotation of health services, and health care is the key point and the core of the health services, but also support from the height of the country’s economic construction industry, by 2020, the total size of the health services to reach 8 trillion to build health care industry cluster group known brands and a virtuous circle. At the same time new files encouragement and support social capital founded medical institutions to provide basichealth services. Therefore, the acquisition means to promote the use of the pharmaceutical industry merger integration will become the only way for the sustained and healthy development of the pharmaceutical industry.Prior to this there are a lot of professional scholars studied the performance of M & A, but for a large pharmaceutical industry M & A performance study is empirical research studies on the pharmaceutical industry specific case studies are lacking, which resulted in the mergers and acquisitions practice can provide a reference for policy makers is limited literature. The basis of previous research by reference herein, the choice of pharmaceutical companies to analyze mergers and acquisitions, focusing on corporate behavior before and after the occurrence of mergers and acquisitions, through changes in non-financial indicators and financial indicators to conduct performance analysis. Conducting performance analysis, using the event study its short-term performance analysis, after the use of financial indicators for the secondary data analysis method for the acquisition of financial performance, also refer to Corporate evaluation rules for the operation, and with the Shenzhen Stock Exchange Corporate Social Guidelines, Environmental Disclosure of Listed Companies Guide is easy to select the part of the contents of quantifiable indicators for non-medical John Hancock Financial performance analysis, performance analysis to compensate for the limitations caused by a single financial analysis, hopes that by this case study can as a reference for other pharmaceutical companies in mergers and acquisitions.