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Fosun Pharma (2196) Acquires 65% Stake In SinoMedCare For $40 Million



9/5/2017 1:57:28 PM

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Fosun Pharma continued to implement its acquisitive strategy by paying $40 million to acquire a 65% stake in Shanghai SinoMedCare Biotech, a company that specializes in medical marketing in tier 3 cities. Fosun has the right to buy the remaining 35% of SinoMedCare in two tranches over the next six years. SinoMedCare, which has been supported by Vivo Ventures, focuses on providing sales and marketing in non-major China cities for multinational pharmas/device companies. It aims to modernize operations with its proprietary cloud-based decision support system.

Read at ChinaBio Today


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