[ET Net News Agency, 12 October 2021] Shanghai Fosun Pharmaceutical (Group) Co., Ltd.
(02196) said Fosun Health, a subsidiary of the company, has entered into the joint venture
agreement with Forte Industrial Development in relation to the formation of JV company.
The registered capital of the JV company is RMB70 million, of which Fosun Health agreed to
make cash contribution in the amount of RMB35.7 million to subscribe for the 51% of the
registered capital of the JV company, and Forte Industrial Development agreed to make cash
contribution in the amount of RMB34.3 million to subscribe for the 49% of the registered
capital of the JV company.
The establishment of the JV company intends to, by utilizing the parties' respective
resources and advantages in the industry, operate for-profit class III medical facilities
for children targeting high-end children's medical services market in Suzhou, with a view
to further strengthen the group's medical services business deployment in Yangtze River
Delta region. (RC)