Chinese drugmaker Shanghai Fosun Pharmaceutical Group Co Ltd will become the largest shareholder in Chindex International Inc after it and private equity firm TPG said they would take the firm private in a $369 million deal.The deal would give Fosun and TPG access to China's fast-growing private healthcare market, with the government keen to promote investment in the sector to support overburdened public hospitals and bring prices down through increased competition.China's healthcare sector is estimated to hit $1 trillion by 2020, according to McKinsey & Company, but is bogged down by rampant corruption, skills shortages and fragmentation.Fosun Pharmaceutical will invest up to $193.7 million in Chindex International and up to $45 million in its medical equipment supplier unit Chindex Medical Ltd, the Chinese firm said in a statement to the Shanghai Stock Exchange on Tuesday.
Chindex International, Inc. (Chindex) is a health care company. Shares of CHDX traded higher by 3.0% or $0.5/share to $17.15. In the past year, the shares have traded as low as $10.66 and as high as $19.21. On average, 26753 shares of CHDX exchange hands on a given day and today's volume is recorded at 29306.
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