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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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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)

 

20.                               NONCONTROLLING INTEREST — continued

 

(1)         On July 31, 2017, the Group acquired 100% equity interest of IMHealthcare and its subsidiaries (“IMHealthcare”) through Shanghai Jianwei Management. As part of the consideration, 35.06% of Shanghai Jianwei Management’s equity interests were exchanged with IMHealthcare’s original shareholders for this transaction, resulting in non-controlling interest in Shanghai Jianwei Management. The non-controlling interest in Shanghai Jianwei Management is amounted at $1,444 as of March 31, 2018.

 

(2)         Non-controlling shareholders of Ningbo iKang made a prepayment of capital injection $461 in Ningbo iKang during the year ended March 31, 2016. As the business registration as shareholders for non-controlling interest of Ningbo iKang was only completed in current year, resulting in an increase in non-controlling interest as of March 31, 2018.

 

21.                               SEGMENT INFORMATION

 

The Group’s chief operating decision maker has been identified as the Chief Executive Officer who reviews results of operations by business lines when making decisions about allocating resources and assessing performance of the Group. The Group has two operating segments: medical examinations and other medical services and dental services, and they are also the reporting segments.

 

The Group does not allocate any assets to its operating segments as management does not believe that allocating these assets is useful in evaluating these segments’ performance. Accordingly, the Group has not made disclosure of total assets by reportable segments.

 

 

 

For the years ended March 31,

 

 

 

2016

 

2017

 

2018

 

 

 

 

 

 

 

 

 

Net revenues:

 

 

 

 

 

 

 

Medical examinations and other medical services

 

$

364,635

 

$

427,065

 

$

546,610

 

Dental services

 

6,177

 

8,648

 

17,322

 

Total net revenues

 

370,812

 

435,713

 

563,932

 

 

 

 

 

 

 

 

 

Cost of revenues:

 

 

 

 

 

 

 

Medical examinations and other medical services

 

206,034

 

253,147

 

308,064

 

Dental services

 

4,875

 

8,987

 

17,592

 

Total cost of revenues

 

210,909

 

262,134

 

325,656

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

Medical examinations and other medical services

 

158,601

 

173,918

 

238,546

 

Dental services

 

1,302

 

(339

)

(270

)

Total gross profit

 

159,903

 

173,579

 

238,276

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

Selling and marketing expenses

 

64,763

 

74,304

 

96,594

 

General and administrative expenses

 

65,422

 

82,783

 

126,255

 

Research and development expenses

 

3,716

 

3,194

 

3,055

 

Total operating expenses

 

133,901

 

160,281

 

225,904

 

Income from operations

 

$

26,002

 

$

13,298

 

$

12,372

 

 

Components of net revenues are presented in the following table:

 

 

 

For the years ended March 31,

 

 

 

2016

 

2017

 

2018

 

 

 

 

 

 

 

 

 

Medical examinations

 

$

308,053

 

$

360,365

 

$

451,005

 

Disease screening

 

27,092

 

34,951

 

55,233

 

Other services

 

29,490

 

31,749

 

40,372

 

Medical examinations and other medical services

 

364,635

 

427,065

 

546,610

 

Dental services

 

6,177

 

8,648

 

17,322

 

Total

 

$

370,812

 

$

435,713

 

$

563,932

 

 

F-59



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