Fosun Pharma Sells US$523.15 Million Stake in United Family Healthcare
Beijing and Shanghai – Paul Hastings LLP, a leading global law firm, announced that it advised Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”), one of the leading Chinese healthcare groups, in its definitive agreement to sell its stake in United Family Healthcare (“UFH”), valued at US$523.15 million, to New Frontier Corporation (“NFC”). Upon closing of the transaction, Fosun Pharma will subscribe to approximately 6.6 percent equity stake in NFC for approximately US$94 million. The entire transaction also involves the global alternative asset firm TPG selling its stake in UFH to NFC.
UFH is one of the largest and most recognized private healthcare providers offering comprehensive premium healthcare services in China. NFC, a New York Stock Exchange-listed company, is a special purpose acquisition company (SPAC) sponsored by New Frontier Group, a China-focused investment group that invests in, builds and operates diversified businesses in the new economy sectors of China.
Paul Hastings has a long-standing relationship with Fosun and has represented the company and its subsidiaries in a number of significant transactions, including
The Paul Hastings team was led by Shanghai Corporate Partners
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