Hua Xia Healthcare (08143) said it entered into a non-legally binding framework agreement with CITIC Medical & Health Group Co., Limited for the collaboration on potential investment opportunities in the healthcare and hospitals sector in the PRC.
The parties agreed to jointly set up a project coordination group, which comprises experienced management and experts from both parties, to participate in the restructure, mergers and acquisitions of potential hospitals, thereby effectively increase the competitiveness in the industry and achieve win-win situation. The coordination group will meet regularly to conduct pre-investment studies, discuss potential investment opportunities and negotiate an investment proposal.
CITIC Medical & Health Group is a wholly-owned subsidiary of CITIC Group Corporation and is principally engaged in medical management, health management, medicine, and elderly caring services in the PRC.
Trading in shares of Hua Xia Healthcare will be resumed this afternoon.
22/10/2014 12:35
Hua Xia Health (08143) inks team-up with CITIC Group unit
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