Ogier advises on debt financing for US$1.4 billion take-private of Kangji Medical

Ogier's Banking and Finance team in Hong Kong has acted as Cayman Islands counsel to the arranger on a debt financing for the proposed take-private of Kangji Medical Holdings Limited by a consortium led by private equity firm TPG.  

The proposed take-private values Kangji Medical at approximately US$1.4 billion and is one of the largest private equity-led take private transactions in Asia this year.

Kangji Medical is a Hong Kong-listed leading medical device manufacturer specialising in the development and production of instruments for minimally invasive surgery in China. Kangji Medical is proposed to be privatised by way of a scheme of arrangement under section 86 of the Companies Act of the Cayman Islands.

The Ogier team was led by banking partner David Nelson with support from managing associate Kendrick Cheung. The team worked alongside lead counsel A&O Sherman.

David said: "This significant transaction reflects the continued investor appetite for opportunities in China’s healthcare sector. This privatisation highlights the expertise of our experienced team and our ability to deliver seamless solutions for clients."

This transaction builds on Ogier's strong track record advising on high-profile take-private transactions in China's healthcare sector, having advised on the privatisations of China Biologic and New Frontier Health Corporation. Contact the team to find out more.