Di'An Diagnostics

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The proposed investment is a long-term corporate loan of up to US$150 million to Di’An Diagnostics Group Co. Ltd., (“Di’An Diagnostics”, “Di’An”, or the “company”), one of the largest third-party diagnostic services and product providers in China with ~40 laboratories across China serving more than 20,000 medical institutions, and which is publicly listed on the Shenzhen Stock Exchange (300244). Under the proposed use of proceeds, Di’An will: (i) add up to five new diagnostic centers to its independent clinical laboratory (ICL) network including associated cold chain warehouses; (ii) expand existing ICLs including upgrading of equipment; (iii) expand its self-developed In Vitro Diagnostic (IVD) production capacity, (iv) expand its research and development operations; and (v) build advanced IT infrastructure and data analytics functions over the next five years (together, the “Project”). Project locations will mostly be in the major provincial capitals of China. The additional IVD production capacity will mainly focus on advanced diagnostic fields of application, such as mass spectrometry, molecular diagnostics, and micronutrient diagnostics.Di’An Diagnostics Group Co., Ltd. (http://www.dazd.cn/) is located in Hangzhou, Zhejiang, China. Dian Diagnostics Group Co., Ltd. has 9,300 total employees across all of its locations and generated $1.65 billion in sales (USD) by the end of 2020. There are 147 companies in the Dian Diagnostics Group Co., Ltd. corporate family. Most Di’An Diagnostics laboratories and manufacturing facilities are located within industrial parks, with limited exposure to local communities as such parks are typically set up at considerable distances from local residences and sensitive E&S receptor areas.