Zhongshen Zhonghuan – Mazars contributes to Cliníca Baviera takeover by Aier Eye Hospital Group

On Aug 31st, Aier Eye Hospital Group, China’s leading hospital network in eye care, completed its acquisition of Clínica Baviera, the Spain listed ophthalmic clinic. Mazars has been engaged to perform the audit of opening balance for this transaction. 4 offices, China, Spain, Italy and Germany, worked hand-in-hand in the assignment.

Aier Eye Hospital Group is China’s largest eye service provider. As of October 2017, Aier has established more than 200 specialized eye hospitals covering 30 provinces in China. Globally, there are more than 80 ophthalmic branches in the United States, Europe and Hong Kong. Turnover in 2016 reaches €51m (400m RMB).


Clínica Baviera is the largest ophthalmic clinic chain in Europe, with presence in Spain, Germany, Italy and Austria and over 70 clinics. The group has been listed in Spain since 2007. Its turnover in 2016 is €92m (700m RMB).


This deal is worth €152m (1.2b RMB), with cash settlement. The agreement gives Aier an absolute controlling stake in Baviera, with close to 87% of its shares and two thirds of the seats on the Board of Directors. Although Baviera will retain its core management and medical team. Upon completing this deal, Aier Eye Hospital Group is now the only hospital group that are listed in both China and Europe, and the world’s biggest eye care service group with presence in Asia, America and Europe covering a total population of over 2 billion.