China's iKang announces acquisition of Guizhou Wishstar
23-Mar-16, GlobeNewswire
iKang Healthcare Group, China’s largest private preventive healthcare services provider, today announced that it has formed a joint venture with Guizhou Hearst Healthcare Management. iKang now owns a 60% equity in the Joint Venture, which controls 100% ownership of Guizhou Wishstar Medical Center.
%20iKang%20Healthcare%20Group.png "Chinas iKang announces acquisition of Guizhou Wishstar (c) iKang Healthcare Group")
Image: iKang Healthcare Group
This acquisition marks iKang’s first in Guiyang and will effectively expand its presence in the Southwest China market. Guiyang has been dubbed a global capital of summer resorts due to its cool and pleasant weather, and has been recommended by the government to develop its healthcare industry.
Mr Lee Ligang Zhang, Chairman and Chief Executive Officer of iKang, commented on the investment. “We are delighted to welcome Wishstar and their committed team into our family. Guizhou is a key strategic market for iKang in 2016, and Wishstar’s healthcare vision aligns excellently with our own. Their already stellar reputation in Guiyang means that with this Joint Venture we can quickly enter into the local market and extend our presence throughout the province.”