Clifford Chance advises CVC on acquisition of Xi’an Yikang Pharmacy

Leading international law firm Clifford Chance has advised global private equity firm CVC Capital Partners (CVC) on its buyout of Xi’an Yikang Pharmacy.

Clifford Chance previously advised CVC on its initial strategic investment in Yikang Pharmacy in 2021, and more recently on its acquisition of full control.

Yikang Pharmacy is a leading pharmaceutical retail chain business in Northwest China with more than 1,600 pharmacies and is a national leader among O2O (online to offline) and DTP (direct to patient) pharmacies. Through the investment, CVC will help Yikang Pharmacy to accelerate the growth of its business, implement standardised operating systems and continue to develop its digital health business.

China Co-Managing Partner Terence Foo commented, “We are immensely proud to support CVC, a longstanding client, on its investment in Yikang Pharmacy, as part of the continued interest from financial investors in expanding their portfolios in the healthcare industry in China as it evolves.”

Terence led the deal and was supported by consultant Julie Fu associate Cai Jiahong and trainee Rickey Yu. Partner Bai Yong and counsel Zibo Liu advised on the antitrust aspect. Clifford Chance acted as international counsel and Han Kun Law Offices acted as PRC counsel on this deal.