Phoenix Buys Stake in UMP Healthcare; Will Set Up Beijing Clinic JV

Phoenix Healthcare, a company with a portfolio of private hospitals in the Beijing area, paid $23.2 million for a 20% stake in UMP Healthcare. UMP operates out-patient clinics, mainly in Hong Kong, but also in Shanghai, Macau and Beijing. In addition, the two companies will form a 50-50 joint venture to build clinics in the Beijing-Tianjin-Hebei region. Initially, the JV will build three clinics in Beijing, with plans to have at least 10 facilities over the longer term. More details.... Stock Symbol: (HK: 1515) Share this with colleagues: // //