An article on MarketWatch reported that China Cord Blood Corporation, the largest cord blood bank in China, announced on April 12, a US$65 million convertible debt financing with funds affiliated with KKR China Growth Fund L.P., one of the largest China-focused investment funds
"The convertible debt carries a 7% interest per annum and inclusive of the interest, a total internal rate of return of 12% per annum." the article noted.
Ms. Ting Zheng, Chief Executive Officer of cord blood bank stated, “We are extremely pleased with our new partnership with KKR. Their investment in CCBC enhances our capital base and validates our long-term growth platform in China and potentially beyond. Partnering with one of the world’s leading private equity firms also increases our visibility, broadens our shareholder base and enhances the long-term value for all CCBC shareholders.”
“Our partnership represents a landmark investment in the China healthcare space,” said Mr. Julian Juul Wolhardt. “Together with CCBC, we are proud to serve the China market by offering high quality healthcare services that can positively impact the lives of many. With our global expertise, we are dedicated to further strengthening CCBC’s market leadership position.”
The World Cord Blood Congrhttp://www.terrapinn.com/2012/world-cord-blood-congress/index.stmess will be hosted a session on global cooperation for cord blood banking.