In Vitro Hatching M&A Model And M&A Performance Of Listed Companies

The M&A market in China has been developing rapidly since 2014.M&A activities are becoming more active,the types of M&A are more diversified,and the M&A model is more complicated.The in vitro incubation merger and acquisition model is a merger and acquisition model established by a listed company,which is incorporated into the main body of the listed company after successful in vitro incubation project.In recent years,this kind of M&A fund has shown a geometric growth rate.However,most listed companies have only set up M&A funds without follow-up actions,which makes the advantages of in vitro incubation M&A funds not exerted.As a medical listed company,Aier Ophthalmology has set up 7 M&A funds.Using the in vitro incubation model,it has incubated more than 200 hospitals in recent years,and in September 2017,it has incorporated nine hospitals into the main body of listed companies for the first time.Successful cases of in vitro hatching mergers and acquisitions.This paper analyzes the motivation analysis,operation mechanism analysis of the in vitro incubation of Aier Ophthalmology,and changes in the financial indicators of the parent company and the acquired company before and after the acquisition.After completing the acquisition of 9 eye hospitals,Aier Ophthalmology asset turnover rate and debt repayment The ability and return on net assets have fallen.The reason is that the merger and acquisition party was just at the profit and loss threshold in the year,and the high growth but other indicators were lower than the average value of listed companies,which lowered the profitability and solvency of Aier Ophthalmology.After the merger,the overall ability of Aier Ophthalmology is still higher than the industry's second policy.Specialized hospitals are at a time of seizing the market,and growth capacity is an important indicator.Through in vitro incubation,the growth,profitability,operation,and solvency of the acquired companies have leapfrogged,avoiding the adverse effects of direct acquisition of listed companies.This paper summarizes the main points of the establishment of M&A funds by listed companies for in vitro incubation: the following: the precise selection of time points for mergers and acquisitions;the integration of the resources of listed companies for early integration;the perfect incentive mechanism to make the backbone talents work hard to incubate;give full play to the professional of fund managers Sex,listed companies do not interfere with the operation of the fund.The conclusions of this paper have certain reference significance for the chain-type enterprises to seek rapid and stable expansion.