We are advising the special committee of the board of New Frontier Health in connection with its going-private acquisition

Davis Polk is advising the special committee of the board of directors of New Frontier Health Corporation (NYSE: NFH) in connection with a proposed going-private acquisition by a consortium that includes New Frontier Public Holding Ltd., Vivo Capital Fund IX (Cayman), L.P., Fosun Industrial Co., Limited, the Private Equity business within Goldman Sachs Asset Management (Goldman Sachs), certain affiliate of Warburg Pincus LLC and certain other investors.

On August 4, NFH announced that it has entered into a definitive Agreement and Plan of Merger, in a transaction implying an equity value of approximately $1.582 billion. If completed, the merger will result in NFH becoming a privately-held company and its shares will no longer be listed on the New York Stock Exchange. The transaction is subject to customary closing conditions, including approval by the shareholders of NFH, and is expected to close in the fourth quarter of 2021.

New Frontier Health Corporation is the operator of United Family Healthcare (UFH), a leading private healthcare provider offering comprehensive premium healthcare services in China through a network of private hospitals and affiliated ambulatory clinics. UFH currently has nine hospitals in operation or under construction in all four tier 1 cities and selected tier 2 cities.

The Davis Polk corporate team includes partner Howard Zhang and registered foreign lawyers Jie Zhang and Yulan Ouyang. Partners Nick Benham and Hilary Dengel, counsel Robert F. Smith and associates Charlotte Allen, Claudia Herron and Shalina Rahman are providing finance advice. Counsel Alon Gurfinkel and associates Omer Harel and Elina Khodorkovsky are providing tax advice. Members of the Davis Polk team are based in the Beijing, Hong Kong, New York and London offices.

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