This development follows on the heels of Singapore Paincare’s press release on June 14 in relation to its 51%-owned subsidiary’s investment of approximately $7.6 million for 2.3% of the total issued share capital of Puxiang Healthcare. It cements the parties’ strategic relationship to leverage each other’s resources, expertise and clinical assets.
Singapore Paincare Holdings announced that it has signed a non-exhaustive and non-binding term sheet to set up a joint venture company (JVCo) with Beijing Puxiang Hospital Investment Management (BPHIM), a wholly-owned subsidiary of China’s Puxiang Healthcare Holding.
The JVCo PuXin Pain Technology Hospital Management Company will be introducing pain care services in Puxiang Healthcare’s group of 15 community hospitals in the Chinese cities of Beijing, Hebei and Tianjin.
