Phoenix Healthcare Group held an extraordinary general meeting on October 31 to vote on the purchase of shares of CR Healthcare wholly owned subsidiary company Ample Mighty Limited. For this transaction, only independent shareholders have the right to vote, and their controlled shares amounted to 590 million shares. Shareholders who participated in the vote controlled a total of 260 million shares, and they 100% unanimously voted for the purchase.

Meanwhile, all conditions and terms under the purchase agreement have been reached, and the shares transaction was made on October 31. CR Healthcare thus owns 460 million new shares and has become the largest shareholder of Phoenix Healthcare Group and controls 35.7 % of all its shares. Phoenix Healthcare was thus renamed as China Resources Phoenix Healthcare Holding Co., Ltd. The company now owns more than 100 healthcare institutions and 11,900 open beds, which claims as the largest medical service industry platform in China.

It is widely acknowledged that the next 15 years is an important period of strategic opportunities for China’s healthcare industry. China Resources Phoenix Healthcare will play an in depth role in the supply side structural reform of China’s healthcare service industry, and will leverage on its platform resources to develop and expand its market leadership. The brand new China Resources Phoenix Healthcare will integrate both sides’ brands, resources, experiences and management teams, and will upgrade the management efficiency and service of the existing hospital network, and will provide diversified and multi-level medical service to the public. Meanwhile the company will speed up its expansion roadmap and focus on key areas across the country, expand its health industry scale, construct an excellent, highly efficient regional integrated cooperative healthcare system, so as to build itself into a paradigm of great hospital invested and operated by China’s social capital, poised for an international healthcare group.