并购重组是企业通过外延式扩张从而快速做大做强、实现超常规发展的重要手段。与内涵式发展不同,并购更讲求的,第一是效率,第二是时机。这两点,在以一心堂为代表的药品零售行业并购案例中体现的尤为明显。不难看出,一心堂等上市药店一开始更多地钟情于股权式收购,特别是一心堂上市初期实施的几次并购均选择了股权收购(而且是100%股权)方式。显然,一心堂的如意 Merger and reorganization is an important means by which an enterprise expands rapidly and expands quickly and achieves unconventional development. Different from the development of connotation, mergers and acquisitions stress more, the first is efficiency, the second is the timing. These two points are particularly evident in the M & A of drug retail industry represented by One Heart Hall. It is not difficult to see that Yixintang and other listed pharmacies began to favor more equity-based acquisitions. In particular, several mergers and acquisitions that were initially implemented in Yitintang’s IPO all chose to acquire (but also 100% equity) equity. Obviously, the heart of the wishful