Harbin Gloria Pharmaceuticals To Pay $27.5 Million For Stake In Zhenyang Hospital

Harbin Gloria Pharma will acquire a 70% interest in Sheyang Zhenyang Hospital (Sheyang branch of Second Affiliated Hospital of Nanjing Medical University) for at least $27.5 million. Hospital management is a new field for Gloria, which is known as a maker of injectible drugs. Gloria is treating the acquisition as a test case: if the purchae proves profitable, Gloria will seek to build a portfolio of China hospitals.

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