Phoenix Healthcare and CITIC Medical signed an agreement, CITIC Medical will become one of the Phoenix shareholders
On October 28, 2016, Phoenix Healthcare officially announced: the company and CITIC Medical Health Industry Group Co., Ltd. ("CITIC Medical") formally signed an agreement; Phoenix Healthcare will purchase stock rights 70% of Hangzhou Plastic Surgery of CITIC Medical and stock rights 60 % of its Huizhou Hospital 60 %. After the transaction is completed, CITIC Medical will become the second largest shareholder of Phoenix Healthcare listed companies.
CITIC Group is one of the leading state-owned enterprises in China, and CITIC medical has a leading position in China's healthcare industry. Phoenix Healthcare and CITIC medical cooperation have important strategic significance. This cooperation will not only introduce a strategic shareholder with international influence and rich resources, but also inject quality hospital assets into phoenix healthcare. Through cooperation, Phoenix Healthcare has expanded its industrial distribution to the Yangtze River delta, and its business scope has extended from integrated healthcare services to specialty healthcare services. This helps to optimize the healthcare service structure of Phoenix Healthcare as well as improve its healthcare service ability and industrial influence. It has provided a strong impetus for building the largest heathcare service platform in China and Asia.