Zhitong Financial News, BeiGene (688235SH) announced that it will integrate and optimize the company with its wholly-owned subsidiary, PI Health, Ltd("Pi Health Cayman") ("Pi Health Cayman"), Pi Health Inc("PI Health") intends to use 4179With a valuation of US$840,000, the company will absorb and merge its wholly-owned subsidiary, Pi Health Cayman, and the company will directly hold the corresponding equity of Pi Health, while Pi Health will introduce external investors to jointly promote its further operation in the development of software, analysis and research solutions in the healthcare industry.
According to the announcement, after Pi Health absorbs and merges with Pi Health Cayman, the company will hold Pi Health 4240560,000 Class A preferred shares and 103940,000 non-voting Class A-1 preferred shares, subscribed** at 0. per share$9621. The follow-on company intends to hold 103940,000 non-voting Class A-1 preferred shares at a rate of 0$9,621** transferred to RxCapital LLC. Upon completion of the aforementioned restructuring of PI Health, PI Health intends to issue 2936. to Class A preferred stock investors280,000 Class A Preferred Shares, for an aggregate subscription amount of US$28.25 million, with shares subscribed** for these Class A Preferred Shares at a rate of 0$9621. Among them, P&O Trust (a trust for the minor children whose beneficiaries include Mr. Au, the company's chairman and chief executive officer) intends to contribute US$5 million to subscribe for PI Health51970,000 Class A preferred shares. Upon completion of the series of transactions, BeiGene does not control PI Health, and PI Health is not included in BeiGene's consolidated financial statements.
The divestiture of Pi Health Cayman mitigates the interaction between BeiGene and its wholly owned subsidiary, PI Health Cayman, around drug development, clinical trials or data sharing, which could be reviewed by ethics committees or regulators, the announcement said. Prior to the completion of this transaction, Pi Health Cayman was a wholly-owned subsidiary of the Company and provided FICS data analysis services to the Company. Upon completion of the transaction, PI Health will continue to provide these services to the Company on a fairly** basis.