China Resources(Holdings)Co.,Ltd.

CR Healthcare and Phoenix Healthcare Sign Official Agreement on the Sale of Assets and Equity

Time:2016-08-31Source:CR Healthcare

On 30 August, CR Healthcare and Phoenix Healthcare signed an official Equity Sales Agreement. Phoenix Healthcare will issue 463 million new shares to CR Healthcare at HK8.04 per share, amounting to a total of around HK3.72 billion, for the acquisition of 100% of the equity of CR Healthcare’s wholly-owned subsidiary, Ample Mighty Limited Upon completion of the transaction, CR Healthcare will become the number one major shareholder of Phoenix Healthcare, and Phoenix Healthcare will be renamed as CR Phoenix Healthcare Holding Co., Ltd.

By joining with another strong force, Phoenix Healthcare, CR Healthcare will quickly build up a healthcare services platform, covering numerous key regions across the country, facilitating the integration of healthcare resources, improving brand awareness and brand influence for both parties. CR Phoenix Healthcare Holding Co., Ltd. will further promote resources sharing among its hospitals, enhance operating efficiency, optimise healthcare services platforms, striving to become the leading enterprise in China’s healthcare services industry, providing better-quality healthcare services to the public, and better fulfil its social responsibilities through industry development.