CR Pharmaceutical Group Limited signed a project transfer agreement with Huaibei Mining Group Co Ltd (HMG) on December 26. CR Group will possess a 100 percent stake in HMG in Huaibei Miners General Hospital Group (HMGHG).

HMGHG is the only cross-regional large hospital group in Huaibei city. It performed well in the market and has 16 branches, 27 healthcare stations and 10-plus community health clinics. It has nearly 60 medical members with a total of 3,000 beds which serve Huaibei, Suzhou, Bozhou and Yongcheng cities. Huaibei Miners General Hospital is a Grade 3 and Class A hospital with more than 1,500 beds, providing integrated services, including medical treatment, education, research, disease prevention, healthcare and rehabilitation.

The acquisition will bring the number of medical beds of CR Pharmaceutical to 7,000. Based on the well-organized Grade 3 medical care system of HMGHG, CR Pharmaceutical is able to focus on the core medical resources, improve its regional strength and attract more customers. Joining hands with the Mine Hospital of Xuzhou under CR Pharmaceutical, HMGHG can share resources and enjoy more cooperation opportunities on business development and discipline construction for talent training.

The successful acquisition of HMGHG helps CR Pharmaceutical obtain regional advantages and has a positive effect on CR Pharmaceutical’s investment in medical sectors in the future.