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iKang Announces Pricing of Initial Public Offering

BEIJING, April 9, 2014 (GLOBE NEWSWIRE) -- iKang Healthcare Group, Inc. ("iKang" or the "Company") (Nasdaq:KANG) today announced the pricing of its initial public offering of 10,904,846 American Depositary Shares ("ADSs") at an offering price of $14 per ADS. Two ADSs represent one Class A common share. The Company's ADSs are expected to begin trading on NASDAQ on Apr. 9, 2014 (US Eastern Time) under the ticker symbol "KANG." iKang's initial public offering consists of 7,574,446 ADSs offered by iKang, and 3,330,400 ADSs offered by the selling shareholders. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 1,635,726 ADSs, all of which will be from iKang.

Subject to the completion of this offering, Best Investment Corporation, which is a wholly-owned subsidiary of CIC International Co., Ltd., which is a subsidiary controlled by China Investment Corporation has agreed to purchase from iKang a certain number of Class A common shares at a per share price equal to the initial public offering price of iKang's ADSs divided by the number of common shares represented by each ADS, for a total purchase price of US$40.0 million. Best investment Corporation has agreed to a lock-up for a period of 180 days from the date of the initial public offering prospectus.

BofA Merrill Lynch and UBS Investment Bank are acting as the representatives of the underwriters for this offering. Oppenheimer & Co. Inc. is acting as the co-manager for this offering.

iKang's registration statement relating to this offering has been filed with the U.S. Securities and Exchange Commission and was declared effective on Apr. 8, 2014 (US Eastern Time). The offering is being made only by means of a prospectus. When available, an electronic prospectus may be made available on the Internet website maintained by one or more of the representatives of the underwriters for this offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

About iKang

iKang Healthcare Group, Inc. is the largest provider in China's fast growing private preventive healthcare services market, accounting for approximately 12.3% of market share in terms of revenue in 2013.

Through iKang's integrated service platform and established nationwide network of medical centers and third-party service provider facilities, the Company provides comprehensive and high quality preventive healthcare solutions including a wide range of medical examinations services and value-added services including disease screening and other services. iKang's customers are primarily corporate customers who contract the Company to provide medical examination services to their employees and clients and pay for these services at pre-negotiated prices. iKang also directly market its services to individual customers. In fiscal year ended March 31, 2013, the Company delivered its services to approximately 1.9 million individuals in total.

As of March 25, 2014, iKang's nationwide network consisted of 45 self-owned medical centers covering 15 of the most affluent cities in China, namely Beijing, Shanghai, Guangzhou, Shenzhen, Chongqing, Tianjin, Nanjing, Suzhou, Hangzhou, Chengdu, Fuzhou, Changchun, Jiangyin, Hong Kong and Changzhou. The Company has also supplemented its self-owned medical center network by contracting with approximately 300 third-party service provider facilities which include selected independent medical examination centers and hospitals across all of China's provinces, creating a nationwide network that allows iKang to serve its customers in markets where it does not have self-owned medical centers.

Forward-looking Statements

This press release contains "forward-looking statements." These forward-looking statements relate to beliefs, expectations or intentions and similar statements concerning matters that are not of historical fact and are generally accompanied by words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "intend," "potential," "plan," "goal" or other words that convey the uncertainty of future events or outcomes. These forward-looking statements may include, but are not limited to, expectations concerning the commencement of trading of the Company's ADSs on the NASDAQ Global Select Market, the Company's ability to complete the offering and the concurrent private placement, the timing of the closing and the intended use of the net proceeds. The Company has based these forward-looking statements on its current expectations and assumptions about future events. While the Company's management considers these expectations to be reasonable, they are inherently subject to risks, contingencies and uncertainties, most of which are difficult to predict and many of which are beyond the Company's control. Investors should not place undue reliance on these forward-looking statements.

CONTACT: IR Contact: iKang Healthcare Group, Inc. Chris Ren Director of Investor Relations Tel: +86 10 5320 8599 Email: chris.ren@ikang.com FleishmanHillard Email: ikang.ir@fleishman.comSource:iKang Healthcare Group Inc