Phoenix Healthcare, Beijing Jing Mei to Form Beijing Hospital JV.
M2 EQUITYBITES-December 31, 2014-Phoenix Healthcare, Beijing Jing Mei to Form Beijing Hospital JV
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31 November 2014 - China-based hospital group Phoenix Healthcare Group Co. Ltd and Beijing Jing Mei Group Co. Ltd have entered into a non-binding cooperation framework agreement under which the parties agreed to establish a JV company for the overall restructuring of Jing Mei Group General Hospital, the companies said.
According to the company, the JV would be called Beijing Jing Mei General Hospital Co. Ltd.
Upon the establishment of the JV company, the JV company will be owned as to 70% by Phoenix Healthcare and as to 30% by Beijing Jing Mei.
Phoenix Healthcare said it agreed that Beijing Jing Mei can opt to sell its 30% equity interest in the JV company to Phoenix Healthcare at anytime within the one year from the first anniversary of the JV company obtaining its business license.
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