Luye Medical Group will pay $688 million to acquire Healthe Care Australia, a chain of 17 Australian hospitals with over 1800 beds, from Archer Capital. Luye Medical is affiliated with Luye Group, the parent company, and Luye Pharma Group, a Hong Kong listed pharmaceutical company. After the acquisition, Luye Medical, with an established hospital operation in Australia, will provide a platform to expand into China, both with privately owned hospitals and public-private partnerships.
