Chinese company makes $300M equity investment in miVIP ASC chain: 4 things to know


Chinese company Shanghai Hongxiao Science and Technology made an equity investment in miVIP and Oband, an outpatient surgery center network focused on robotically assisted minimally invasive surgeries.

Here are four things to know:

1. Shanghai Hongxiao made a $300 million investment in the ASC chain. The investment includes an initial payment and future earnouts. The centers are known for using da Vinci Robotic Surgical Systems in the outpatient setting.

2. Isaac Verbukh, MD, founded miVIP in 2006 and grew the company from a single location to six ASCs and more than 80 surgeons. The centers host a variety of procedures, such as ENT, gastroenterology, joint replacement, orthopedics, spine surgery, urology and pain management.

3. Aaron Capital served as the investment bank in the transaction, with Tong Liu, Robert Smith and Roman LeFranc working with Dr. Verbukh throughout the process. The group conducted preparatory activities, worldwide company marketing, due diligence and negotiations, ultimately choosing Hongxiao to become the company's partner.

4. Hongxiao was an attractive partner for miVIP because it supports an aggressive expansion plan in the U.S. and worldwide.

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