$30M deal: Genesis to sell 51% stake in China subsidiary

Genesis HealthCare signed a definitive agreement to sell a majority stake in its subsidiary in China for $30 million. The Kenneth Square, Pa., operator of post-acute care facilities plans to see 51 percent of the subsidiary, GRS-HS, to Riswein Health Industry Investment Co. Ltd. for $30 million.   The transaction is expected to close in the first quarter of 2019, and is subject to regulatory and licensing appr ovals, and other customary conditions. While the deal is being finalized, Riswein, which…
Source: bizjournals.com Health Care:Pharmaceuticals headlines - Category: Pharmaceuticals Authors: Source Type: news