Luye Medical Commits $300 Million to Chongqing Hospital Venture

Luye Medical Group, an affiliate of Luye Pharma, signed an MOU to bring international healthcare expertise to Chongqing. Luye will commit $300 million to bring up-to-date healthcare to a large healthcare complex being built by the Jiangbei District of Chongqing. Luye will apparently run the complex while the district will provide the facilities. In 2016, Luye Medical closed a $688 million deal to acquire Healthe Care Australia, a chain of 17 Australian hospitals. Despite its recent interest in healthcare delivery, Luye continues to expand its drug business: last month, Luye Pharma acquired the transdermal patch and implant business of Swiss pharma Acino for $269 million. More details.... Stock Symbol: (HK: 2186) Share this with colleagues: // //