Ramsay abandons hospital JV in China
02-Mar-16, Yahoo News
Ramsay Health Care has scrapped its proposed hospital joint venture in western China because several conditions weren't met.
%20Ramsay%20Health%20Care.jpg "Ramsay abandons hospital JV in China (c) Ramsay Health Care")
Image: Ramsay Health Care
The private hospital operator, along with Malaysian partner Sime Darby Berhad, had signed a deal in May 2015 to invest $US135 million ($A188.05 million) for a joint venture with Chinese healthcare group Chengdu Jinxin Healthcare Investment.
"Ramsay Sime Darby Health Care Sdn Bhd has decided not to proceed with the proposed joint venture in Chengdu, China, due to a number of threshold conditions precedent not being satisfied," the company said in a brief one-sentence statement on Wednesday.