Caixin
Nov 04, 2022 06:24 AM
BUSINESS

Fosun Pharma Scraps $158 Million Acquisition of Singapore Cancer Clinic

Fosun International aims to sell as much as $11 billion of noncore assets in the next 12 months.
Fosun International aims to sell as much as $11 billion of noncore assets in the next 12 months.

Fosun Pharmaceutical, the drugmaking arm of debt-laden conglomerate Fosun International Ltd., terminated its proposed acquisition of a 60% stake in one of Singapore’s largest operators of cancer treatment centers, the company said Wednesday night.

Fosun Pharma agreed in June to buy the stake in OncoCare Medical for as much as S$218 million ($158 million). Fosun Pharma said the transaction wasn’t closed because a welter of conditions couldn’t be met by the Oct. 30 deadline, and the parties agreed to scuttle the deal.

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