Bupa has announced it is to acquire Quality HealthCare Medical Services, the largest private clinic network in Hong Kong, for US $355 million.
The acquisition from Fortis Healthcare is expected to be completed by the end of October 2013.
Quality Healthcare has the most extensive clinic network in Hong Kong, with 102 clinics owned and operated by Quality HealthCare and 530 affiliated centres.
Bupa said as a result it will be the leading healthcare funder and provider in terms of depth and breadth of service in Hong Kong, with a "strong platform" for future growth in the region
Stuart Fletcher, chief executive of Bupa, said: "Quality HealthCare is a successful, well managed business that has a great future with Bupa. We both share a strong and common vision of providing high quality and affordable healthcare to people in Hong Kong."
Paul Li, chief executive of Quality HealthCare, said: "Joining Bupa is an exciting step in Quality HealthCare's growth and evolution. By combining our experience of delivering care to millions of people in Hong Kong with Bupa's international expertise in healthcare, we will continue to grow our business and provide access to high quality healthcare to our family of customers in Hong Kong."
