OUE Lippo Healthcare buys 70% stake in Wuxi Bohai Hospital for $1.9m

The Grade II hospital has 100 beds.

Singapore-based OUE Lippo Healthcare (OUELH) will acquire a 70% stake in the company operating Wuxi Bohai Hospital, for $1.39m (RMB9.8m), according to a press release. It intends to rename the hospital to Wuxi Lippo Xi Nan Hospital.

Upon completion, the company will fully manage and operate the Grade II 100-bed hospital located in Jiangsu Province, China, the country’s fifth most populous and densely populated province.

The acquisition is expected to be completed by 31 December.

In 2018, the company introduced a three-pronged growth strategy, namely forming and strengthening strategic partnerships, developing an asset-light business model and growing its Pan-Asian network.