Case Study On Motivation And Performance Of Serial Mergers And Acquisitions Of Meinian Onehealth-Healthcare

In recent years,Chinese listed companies present a new trend of transformation from single M&A to continuous M&As,and the continuous M&As of listed companies is a new phenomenon worth studying in our capital market.In view of the aging population and the increase in national health awareness,it has given rise to unprecedented growth in the medical checkup industry.Meinian Health has been deeply engaged in the physical examination industry for many years,and has rapidly expanded its scale through successive mergers and acquisitions,gradually becoming a leading enterprise in the physical examination industry and attracting much attention.The thesis selects Meinian Health’s successive M&As as the object of study and analyzes the motives and performance of Meinian Health’s successive M&As,which has theoretical and practical significance.The thesis uses literature research method,event study method,and financial index analysis method.In the theoretical part,the basic theories of M&As motivation,such as continuous M&As,M&As performance,M&As performance evaluation methods and economies of scale theory,are explained.The case study section firstly introduces the basic information of Meinian Health,its shareholding structure and actual controllers,business scope and corporate strategy;secondly,it analyzes the motives of Meinian Health’s successive M&As from multiple perspectives and compares the short-term market performance,long-term financial performance and non-financial performance of the company after successive M&As.The study found that the main reasons for the continuous M&As of Meinian Health were to increase market share,to achieve diversification strategy and to obtain synergistic effects;the continuous M&As of Meridian Health had a negative impact on the short-term market performance,long-term financial performance and nonfinancial performance of the company;the reasons for the decline of the company’s performance after the continuous M&As were mainly the high M&As premium,the poor expansion effect of the company’s controlled investment,the lack of post-merger integration and the financial impact of the M&As.The main reasons for the decline in performance after successive M&As are the high M&As premium,the poor expansion effect of the company’s control investment,the lack of resource integration after M&As,and the reliance on financial debt financing.Finally,the thesis proposes insights that can be drawn from the case study of Meinian Health’s successive mergers and acquisitions,including the formulation of appropriate M&As strategies,the improvement of post-merger integration capabilities,and the selection of diversified payment methods..The continuous mergers and acquisitions of Meinian Health reflect the current context of the health checkup industry.It is a major challenge for the whole industry to find new opportunities,expand new models and create new growth points for enterprises through frequent strategic mergers and acquisitions,which also provide reference for other enterprises in the same industry,and thus promote the healthy and orderly development of China’s economy.