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Phoenix Healthcare Acquires CR Healthcare's Hospitals for $480 Million

publication date: Apr 12, 2016
Phoenix Healthcare Group, which claims to be China's largest private hospital company, has agreed to acquire the hospital operations of China Resources Healthcare Group in exchange for $480 million of Phoenix stock. In 2015, CR produced $310 million in revenue from the 47 medical institutions and 3 elderly care institutions it owns or manages. Phoenix is larger, but operates mainly in Beijing, Tianjin and Hebei. With CR's additional facilities, the combined company plans to expand across China. More details....

Stock Symbol: (HK: 1515)

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