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Fosun Pharma Acquires $14 Million of Chindex Stock
Date:8/27/2010

uticals-list">Pharmaceuticals, Acquisitions, Mergers and Takeovers Click to view news release full screen  

Fosun Pharma Acquires $14 Million of Chindex Stock

   

Purchases 933,022 shares of Common Stock at $15.00 per ShareIncreases Ownership Stake to 19.9%

BETHESDA, Md., Aug. 27 /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 that they have consummated a previously-announced stock sale.

The closing is part of the strategic alliance between Fosun Pharma and Chindex to form Chindex Medical Limited (the "Joint Venture"), a joint venture focused on manufacturing and distributing medical devices in China. The Joint Venture would merge and operate Chindex's Medical Products division and certain of Fosun Pharma's medical device businesses in China. The Joint Venture would be owned 51% by Fosun Pharma and 49% by Chindex. The closing of the Joint Venture is subject to the final negotiation and execution of definitive documents.

Today's closing of 933,022 shares of Chindex common stock at $15 per share is one of two separate planned purchases by Fosun Pharma from Chindex of a total of up to 1,990,447 shares, all at $15 per share. Today's closing increases Fosun Pharma's curr
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SOURCE Chindex International, Inc.
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