Analysis On The Motivation And Performance Of Social Capital Merging Hospital

In recent years,the state has issued a series of policies to encourage social capital to run a hospital and reduce the threshold for social capital to run a hospital.In recent years,social capital has ushered in a climax.Social capital enters the field of health care by means of M & A.on the one hand,it can reduce the initial investment and realize the rapid expansion of capital.On the other hand,it can use the stable patients and popularity of the original hospital to rapidly improve its position in the market competition.Therefore,hospital M & A has become a shortcut for social capital to strive for territory in China's medical and health industry.However,although the number of transactions of M & A hospitals disclosed by the market is increasing,there are different opinions on whether to achieve the strategic goal ultimately.What is the difference between M & A as a special target and general M & A between enterprises,what kind of impact can it bring to the M & A parties and hospitals,and the reasons behind the impact are crucial for the company to evaluate the implementation results of the strategy and formulate the future development direction.Therefore,it is of great theoretical and practical significance to study the performance evaluation of M & A hospitals for promoting the operation of social capital.This paper chooses the case of Fosun Pharmaceutical's merger and acquisition of Chancheng hospital as the research object,and uses the event study method,financial index method and non-financial performance method to measure the performance level of Fosun Pharmaceutical and Chancheng hospital after merger and acquisition.Conclusion: in terms of short-term performance,Fosun Pharmaceutical obtained a positive market response after the merger and acquisition of Chancheng hospital.In terms of long-term performance,after the merger and acquisition,Chancheng hospital improved the performance level of Fosun Pharmaceutical.Because of the introduction of social capital,Chancheng hospital expanded its business scale.Through further evaluation of the case of Fosun medicine,this paper provides suggestions for the hospitals and social capital.Hope to provide reference for the merger and acquisition of hospitals by social capital,and enrich the case materials of motivation and performance analysis of the merger and acquisition of hospitals.