Sanpower and CITIC to Raise $2.9 Billion for Sanpower's Healthcare M&A

Sanpower Group has enlisted China's CITIC Bank, a state-owned investor, to raise $2.9 billion for a healthcare M&A fund, which will fund Sanpower's healthcare acquisitions. Already, Sanpower has committed $1.6 billion -- more than half the total -- to two big-dollar purchases: $820 million for prostate cancer immunotherapy company Dandreon and $781 million to purchase 65% of China Cord Blood. Sanpower already owns several China hospitals, and in 2014, it paid $70 million to acquire Natali, an Israeli home healthcare company. More details.... Stock Symbol: (NYSE: CO) Share this with colleagues: // //