Research On The Motivation And Effect Of Uniform Asset Reorganization Of Chinese Medicine Under The Background Of Medical Reform

The reorganization of assets of listed companies has always been a hot topic in academic circles.Through asset reorganization,enterprises can optimize the allocation of resources,enhance comprehensive strength and achieve the goal of long-term development.In addition,in recent years,more and more asset reorganization activities have appeared in the securities market.At the same time,the pharmaceutical industry is known as the sunrise industry in China.In recent years,the Chinese pharmaceutical industry has been developing towards the direction of scale and centralization.However,compared with developed countries,the core competitiveness and industrial structure of China's pharmaceutical industry are still relatively backward.In order to improve the core competitiveness and optimize the industrial structure,mergers and acquisitions and reorganizations become an important way for the pharmaceutical industry.Moreover,a series of policies have been issued at the national level to help pharmaceutical companies expand the industrial scale and market share and improve the industry concentration through mergers and acquisitions,among which the introduction of the medical reform policy is a strong support and help to them.As the national policy provides a very strong direction of reform and future development of the industry,that is to say,many pharmaceutical enterprises should make full use of the favorable policies of the national medical system reform and take advantage of the opportunity of mergers and acquisitions when the time is right to promote their continuous development and progress,so as to achieve the goal of becoming bigger and stronger.How does the medical system reform policy promote the merger and reorganization of medical enterprises? What is the impact on the market performance,financial performance and non-financial performance of the medical enterprise assets reorganization under the motivation of the medical system reform policy? These are what this article explores.Sinopedical co.,ltd.is a comprehensive listed pharmaceutical state-owned enterprise affiliated to China national pharmaceutical group and sinopedical holding co.,LTD.The sales volume of its distribution business has occupied the leading position in guangdong and guangxi for seven consecutive years from 2013 to 2019.In 2016,under the background of medical reform,sinopyco completed the asset restructuring of the enterprise,sold the control of three pharmaceutical companies,and placed three pharmaceutical distribution companies and the national university pharmacy,realizing the business adjustment and transformation under the background of medical reform.Supported by the theory of asset restructuring,this paper analyzes the motivation and performance of sinopharm's uniform asset restructuring from the perspective of medical reform.In this paper,aiming at the performance evaluation of sinopac uniform assets reorganization,not only established a financial index inspection system with "market performance" + "financial performance" as the core,but also selected non-financial indicators affected by the medical reform policy to study,thus comprehensively reflecting the impact of the medical reform background on the motivation and performance of sinopac uniform assets reorganization.In this paper,it is believed that the most important reason for sinopac's asset reorganization is to complete the adjustment of main business business in line with the medical system reform policy and optimize the industrial structure of the enterprise under the background of medical reform.Through asset restructuring,the main business was transformed from "industrial manufacturing" + "liangguang distribution" to "liangguang distribution" + "national retail".The short-term and mid-long term performance of the asset restructuring shows a positive wealth effect,indicating that the asset restructuring has created value for the enterprise,and the market recognizes the asset restructuring of sinopharm.From the perspective of the result of after the assets reorganization,distribution business after the reorganization of assets comply with the policy reform direction,realized direct sales revenue income and scale expansion,reduced the allocate business,increased by two votes terminal customer resources,revenue and gross margin has been steady growth,maintaining the 2011-2019 lead distribution of guangdong for seven consecutive years.Following the asset restructuring,the retail business conforms to the direction of policy reform,actively expands the chain stores,especially the number of directly operated stores,franchised stores and directlyoperated stores.The revenue and gross profit have all increased steadily,and the national pharmacy has maintained the leading position of the national retail chain pharmacy for 9consecutive years from 2013 to 2019.So this article from the distribution business and retail business comprehensive,think its consistent under the background of reform of asset restructuring both the adjustment and expansion of distribution business and retail business are both accords with the trend of the reform policy of expansion,and got the good financial effect,characters which is dominated by the consensus in the medical reform,comply with the health system reform policy do the adjustment of the main operating business,the two main business in distribution and retail assets reorganization after the completion of the form "distribution of guangdong" + "national retail" pattern,to keep the two regional distribution business and retail business of the country's leading position.Therefore,this paper believes that the asset reorganization of sinopeia is successful,and the motivation and result of the asset reorganization are compatible with the medical reform policy.With the continuous boom of medical enterprise merger and reorganization promoted by the medical reform policy,this paper provides a reference for the research on the motivation and performance of medical enterprise asset reorganization from the perspective of medical reform background.First,the development of enterprises should conform to the policy trend;Second,the strong assets reorganization has a greater effect;Third,the enterprise should solve the integration problem after the reorganization.