Phoenix Medical announced today that it has signed terms with China Resources Medical Group Co., Ltd. regarding the acquisition of the assets and interests of Huarun Medical's wholly-owned subsidiaries and the right to manage operations.

Phoenix Medical intends to pay the consideration of the acquisition to China Resources Medical Overseas Holdings Co., Ltd. at a price of HK$8.04 per share, for a total of 463 million shares, with a transaction amount of approximately HK$3.72 billion. Upon completion of the acquisition, China Resources Medical will become the single largest shareholder of Phoenix Healthcare after the completion of the transaction, accounting for not less than 35.7% of the enlarged issued share capital of the listed company. The company will be renamed as “China Resources Phoenix Healthcare Group Co”. . Ltd. "China Resources Phoenix Medical Group Co., Ltd. ("China Resources Phoenix").

About China Resources Medical

It is reported that China Resources Medical Group Co., Ltd., established in Hong Kong in 2011, is a wholly-owned subsidiary of China Resources (Group) Co., Ltd. Focus on hospital investment and construction, operation management and related extension services. Its subordinates own or manage 47 medical institutions and 3 pension institutions. Among the 47 medical institutions, there are 4 4 ​​tertiary hospitals, 25 secondary hospitals, 1st hospital and 12 community medical institutions. All hospitals and clinics are designated units for medical insurance.

1. The total number of approved beds in the above-mentioned medical institutions is 4,954, and the actual number of open beds is about 6,000.
2. The above-mentioned pension institutions have approved a total of 300 beds.
3. The total medical income in 2015 reached approximately RMB 2.41 billion.

Among them, Guangdong Sanjiu Brain Hospital is a modern large-scale tertiary hospital, Kunming Children's Hospital is the only large-scale third-grade children's hospital in Yunnan Province, China Resources WISCO General Hospital is a large-scale comprehensive tertiary hospital, Huaibei The Miners General Hospital is the earliest and largest comprehensive three-level hospital in Huaibei City, and the nuclear medicine department of Xuzhou Mine Hospital has important influence in the Huaihai area.

In 2016, China Resources Medical Group and Joint Commission International (JCI) jointly established the China Resources JCI Hospital Management Research Institute to enhance the service and management level of the hospital through business cooperation with JCI.

According to the number of existing hospitals and beds, China Resources Phoenix will operate a total of 107 medical institutions and 3 pension institutions, including 7 tertiary hospitals, 12 secondary hospitals, 34 primary hospitals and 54 community medical institutions. The actual number of open beds in the institution is approximately 11,780, which will be one of the largest medical service groups in Asia based on the number of operating beds.

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