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Chindex and Fosun Pharma Form Joint Venture
Date:12/28/2010

BETHESDA, Md., Dec. 28, 2010 /PRNewswire-Asia/ -- Chindex International, Inc. ("Chindex") (Nasdaq: CHDX), a leading independent American provider of Western healthcare products and services in the People's Republic of China, and Shanghai Fosun Pharmaceutical (Group) Co., Ltd. ("Fosun Pharma"), a leading manufacturer and distributor of western and Chinese medicine and devices in China, today announced the formation of the previously-proposed joint venture to independently operate certain combined medical device businesses, including Chindex's Medical Products division.  The formation of the joint venture represents a basis of the strategic alliance between the two companies, which aims to capitalize on the long-term opportunity presented by medical product sectors in China.

The joint venture entity, Chindex Medical Limited (the "Joint Venture"), a Hong Kong entity, will focus on marketing, distributing, selling and servicing medical devices in China, including in Hong Kong, as well as activities in R&D and manufacturing of medical devices for the Chinese and export markets. The Joint Venture is owned 51% by Fosun Pharma and 49% by Chindex.

As formed today, the Joint Venture owns the Chindex-contributed businesses (principally the Medical Products division) and is entitled to a pending and obligatory final investiture of the Fosun Pharma-contributed businesses. The Fosun Pharma-contributed businesses have been segregated and, until such investiture, will be operated and managed by the Joint Venture under an entrustment arrangement.  Such investiture will be finished once all requisite governmental and other approvals and other closing conditions have been satisfied.  

Fosun Pharma, upon such final investiture of the Joint Venture, will be entitled to purchase an additional 1,057,425 shares of Chindex common stock at a purchase price of $15.00 p
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SOURCE Chindex International, Inc.
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