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SEC Filings

20-F
IKANG HEALTHCARE GROUP, INC. filed this Form 20-F on 08/10/2018
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Table of Contents

 

IKANG HEALTHCARE GROUP, INC.

 

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued

FOR THE YEARS ENDED MARCH 31, 2016, 2017 AND 2018

(In thousands of US dollars, except share and per share data, or otherwise noted)

 

9.                                      LONG-TERM INVESTMENTS - continued

 


(1)                                 Cost method investments

 

Pursuant to a co-operation agreement with shareholder of Xi’an Puhui Physical Examination Co., Ltd. (“Xi’an Puhui”) in November 2015, the Group invested 23.1% equity interest of Xi’an Puhui, which operates fifteen medical clinics in Xi’an, Zhengzhou and other six cities, with a cash consideration of approximately $32,090. The transaction was closed in December 2015. The Group has no representative on Xi’an Puhui’s board of directors and does not have the ability to exercise significant influence over the operating and financial policies of Xi’an Puhui. The Group used cost method to account for this investment.

 

In May 2015, the Group invested 1.8% equity interests of American Well Corporation (“AW”), a Delaware company with a cash consideration of approximately $13,500. The Group used cost-method to account for the investment as the Group has no representative on AW’s board of directors and does not have the ability to exercise significant influence over the operating and financial policies of AW.

 

In September 2015, March 2016, and October 2016, the Group acquired minority equity interests in several third-party private companies through investments in their common shares or in-substance common shares with cash consideration of $2,000, $993, $232 respectively. The Group accounts for these investments under the cost method as the Group has no ability to exercise significant influence over the investees.

 

In December 2017, the Group sold and disposed two early-stage subsidiaries to a related party, Ningbo Meishan Bonded Port Area Aiying Xingsheng Investment LLP (“Aiying Xingsheng Fund”). After the transaction, the Group held 1% equity interest of each of these two entities, which was accounted for using cost method and the carrying value was at $66 as of March 31, 2018.

 

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