MiVIP and Oband
Mivip and oband
The transaction is initially valued at more than $300 million and with earnout may ultimately be valued in excess of $500 million.
Aaron Capital, Inc. (“Aaron”), a leading global middle market investment bank, is pleased to announce the sale of miVIP and Oband, Inc. (together “miVIP”, or the “Company”), one of the leading networks of outpatient surgery centers and clinics specializing in robotically assisted minimally invasive surgeries in the United States, to Shanghai Hongxiao Science and Technology Co., LTD., a China-based company.
Founded in 2006, miVIP is owned by Dr. Isaac Verbukh. Under his leadership the Company has expanded from a single location to six (6) surgery centers and fifteen (15) clinics and over 80 surgeons. They perform a wide spectrum of surgical procedures including Bariatrics, Ear, Nose, and Throat (ENT), Gastroenterology, General Surgery, Gynecology, Joint Replacement, Orthopedics, Pain Management, Podiatry, Spinal Surgery, and Urology. The Company is one of the largest groups of surgical centers in the world to utilize the da Vinci Robotic Surgical System
Dr. Verbukh commented, “After years of working towards the successful execution of my growth plan and having associated miVIP with world class surgeons I decided it was time to bring in the right partner to replicate the miVIP system and footprint. I chose the investment banking team, which included Robert T. Smith, Roman Lefranc and Tong Liu for their cross-border experience and ability to help the company navigate the complexities of this global transaction.”
The investment banking team provided M&A and industry experience and worked closely with Dr. Verbukh and his management team throughout the sale process, including preparatory activities, marketing the company on a worldwide basis, due diligence and negotiation. Hongxiao was ultimately chosen from over 50 potential bidders. There were a number of contributing factors in miVIP selecting Hongxiao as its transaction partner, but the two most important were the Hongxiao’s willingness to support a continued aggressive expansion plan in the US, while also brining miVIP’s expertise and medical services to the Chinese population.
The transaction is initially valued in excess of $300 million and may ultimately be valued in excess of $500 million. Dr. Verbukh added, “My investment bankers hands-on approach allowed me and my team to focus on maximizing the success of the business while they negotiated and closed a very complex, global transaction.