fosun pharma transfers partial stake in united family healthcare remaining as its strategic shareholder
hong kong, july 30, 2019 - shanghai fosun pharmaceutical (group) co., ltd (“fosun pharma” or “group”; stock code: 600196.sh, 02196.hk), a chinese leading healthcare group announced that it has signed a definitive agreement to sell stakes in united family healthcare (“ufh”) to new frontier corporation (nyse: nfc), and will participate in ufh’s operations through its 9.4 million shares in nfc (representing about 6.62% of the enlarged total shares of nfc).
founded in 1997, ufh has pioneered the development of private international healthcare in china. with primary care as the core philosophy of its general practice, ufh has built a continuous comprehensive system that starts from preventive care and covers diagnosis, treatment, and rehabilitation. fosun pharma has involved in the operations of ufh since 2009 by means of strategic investment in chindex international, inc. after unremitting development during more than 20 years, ufh today has built a strong presence in the center of 1st tier cities, and owns 7 high-end hospitals and 14 high-end clinics in 1st tier and 2nd tier cities in china.
mr. qiyu chen, co-president of fosun international, chairman of fosun pharma commented, “fosun pharma has been a long-time supporter and partner of ufh, and will remain as its strategic shareholder after this transformative transaction. fosun will continue to expand its operations in healthcare services, and remain devoted to building a closed-loop ecosystem consisting of healthcare services, healthcare insurance, and pharmaceuticals.”
nfc is a public investment company formed by new frontier public holding ltd., an affiliate of new frontier group, for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. new frontier group is a china-focused investment group that invests in, builds and operates diversified businesses in the chinese new economy sectors.
about fosun pharma
fosun pharma (stock code: 600196.sh, 02196.hk) is a leading healthcare group found-ed in shanghai in 1994, with its business strategically covering important segments of the healthcare industry’s value chain including pharmaceutical manufacturing and r&d, healthcare services, medical devices and diagnosis, as well as pharmaceutical distribution and retail. facing with the unmet medical needs, fosun pharma has established international r&d platforms in the field of innovative chemical drugs, biologics, high-value generic drugs and cell-therapy. with its commitment to innovation for good health, fosun pharma will continue insisting on the strategic development approach of “organic growth, external expansion and integrated development”, striving to be one of the leading enterprises in the global healthcare market. for more information, please visit www.fosunpharma.com
the press release is distributed by wonderful sky financial group on behalf of fosun pharmaceutical (group) co. ltd.
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