NEW YORK--(BUSINESS WIRE)--
The law firm of Wohl & Fruchter LLP is investigating the acquisition of
Chindex International Inc. (Chindex) (Nasdaq: CHDX) by a group
consisting of Shanghai Fosun Pharmaceutical Group Co. (Fosun),
private-equity firm TPG Capital (TPG), and Chindex’s co-founder,
President and CEO, Roberta Lipson (Lipson).
On February 17, 2014, Chindex announced that it had agreed to be
acquired by TPG, Fosun and Lipson for a price of $19.50 per share in
cash, a mere premium of 13.7% over the closing price of Chindex on
February 14, 2014.
According to Chindex’s proxy statement filed on April 22, 2013, in
advance of the Company’s 2013 annual meeting of shareholders, an
affiliate of Fosun owns 19.9% of the common stock of Chindex.
On November 11, 2013, in connection with Chindex’s announcement of its
financial results for the third quarter of 2013, Lipson stated: “The
Chinese government has recently made unprecedented pronouncements on the
key role of private healthcare in the continued healthcare reform
process, reiterating the expectation that 20% of care will come from the
private sector by 2015, and that by 2020 the healthcare market will be
an RMB 8 trillion (USD$1.3 trillion) industry. Chindex is best
positioned as the earliest and largest private premium healthcare
provider in China to capture this tremendous opportunity.”
Wohl & Fruchter’s investigation concerns the fairness of the
consideration being provided to Chindex shareholders, and whether
approval of the merger was improperly motivated by conflicts of interest.
Persons with relevant information, and CHDX shareholders with questions
about this investigation, are invited to contact our Firm by calling
866.833.6245, or contacting the attorney below.
Additional information is available at http://www.wohlfruchter.com/cases/chdx.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from
fraud and other fiduciary breaches by corporate managers, as well as
other complex litigation matters. Please visit our website, www.wohlfruchter.com,
to learn more about our Firm, or contact one of our partners.
J. Elazar Fruchter (firstname.lastname@example.org)
& Fruchter LLP
570 Lexington Avenue
New York, NY 10022
This release may be deemed to constitute attorney advertising.
Wohl & Fruchter LLP
J. Elazar Fruchter, 845.425.4658
Source: Wohl & Fruchter LLP