Law firm Stephenson Harwood LLP has advised Circle Holdings plc on its 20-year management agreement with a Chinese investor group, to develop and operate a medical facility in Shanghai, China.
"This transaction is the first of its kind and involved a complex deal structure and negotiations with state-owned companies," said Stephenson Harwood partner Chunfai Lui. "It's a standout deal because it paves the way for UK professional expertise to contribute to the development of better healthcare facilities in China.”
Circle Holdings is the AIM-listed holding company for Circle Health Limited, the largest partnership of doctors, nurses and healthcare professionals in the UK.
The facility will offer a range of primary care, diagnostic and treatment services. The investor group, which has committed RMB 200 million (around £22 million) to the Shanghai project, includes Taiping Life Insurance, one of the largest state-owned life insurance companies in China, Xinxing development group, a subsidiary of a Fortune 500 state-owned conglomerate and the investment divisions of two other private Chinese businesses.
"Chunfai and his team were referred to us through our relationship with Stephenson Harwood in London," said Circle Holdings general counsel Shane Cobb. "As this was Circle’s initial entry into the China market, we relied heavily on their expert advice throughout our negotiations on a variety of legal issues, including corporate, healthcare, company law and trademark matters. Despite the time difference, the team were always available and responsive. We look forward to working with them in the future as our presence in China grows."
A team from Stephenson Harwood's Shanghai office advised on the transaction, led by partner Chunfai Lui.