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Taikang Buys 26% of China Hospital Operator Harmonicare for $169 Million

publication date: Nov 21, 2016
Taikang Insurance Group paid $169 million to acquire 26.4% of Harmonicare Medical Holdings, a China chain of eleven women's and children's hospitals. The price was set at HK$6.54 each, a 13% premium to the previous closing price of HK$5.80. Harmonicare completed a Hong Kong IPO last year at HK$7.55, but its stock price hasn't done well since then. In June of this year, it hit a low of HK$3.57, less than half the IPO price. More details....

Stock Symbol: (HK: 1509)

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