China Biologic Privatization Transaction Led by Centurium Capital Wins AVCJ “Deal of the Year – Large Cap”2021-11-17
November 16, 2021, Hong Kong – The Centurium Capital-led privatization of leading plasma-based biopharmaceutical company China Biologic Products Holdings Inc. (“China Biologic” or the “Company”) was awarded “Deal of the Year – Large Cap” by Asia Venture Capital Journal (AVCJ) at its annual award ceremony on November 15 in Hong Kong.
A buyer consortium led by Centurium Capital first announced its indicative proposal to privatize the Nasdaq-listed China Biologic (Nasdaq: CBPO) on September 18, 2019. On November 19, 2020, the two sides had reached an agreement for the consortium to purchase the outstanding shares not already owned by the consortium members at US$120 per share, implying a valuation of US$4.76 billion for the Company. The consortium members also included CITIC Capital, Hillhouse Capital, Temasek and the management team. The privatization transaction was closed on April 20, 2021.
Zhixing Chen, Managing Director of Centurium Capital, commented, “It was a long journey for us to close the China Biologic transaction, which is one of the largest privatization deals in China’s healthcare space in recent years. I want to take this opportunity to thank our investors, our team and friends who supported us along the way. Going forward, we will continue to work closely with the management team at China Biologic and bring the Company to the next level.”
Centurium Capital first invested in China Biologic in August 2018. Founded in 2002, China Biologic Products is a leading fully integrated plasma-based biopharmaceutical company in China. The Company’s products are used as critical therapies during medical emergencies and for the prevention and treatment of life-threatening diseases and immune-deficiency related diseases. China Biologic is headquartered in Beijing and manufactures over 20 different dosage forms of plasma products.
China Biologic is also engaged in the sale of medical devices, primarily regenerative medical biomaterial products. The Company sells its products to hospitals, distributors and other healthcare facilities in China.
AVCJ has been the leading source of information on private equity and venture capital activities in Asia since its establishment in 1987. AVCJ presents annual awards across categories recognizing excellence in fundraising, investment, exits, responsible investment, and value creation.
Centurium Capital is a leading private equity investment firm in China and primarily focuses on investing in China's consumer, business services and healthcare sectors. As a transformational capital provider with a focus on business model innovation and resolving structural deficiencies to unlock growth potential, Centurium pursues a hands-on and operations-centric investment approach to drive value creation and generate long term shareholder value.