SHANGHAI -- Chinese drugmaker Fosun Pharmaceutical Group has agreed to sell its stake in a hospital group to U.S. private equity firm Warburg Pincus for $124.08 million.
Fosun will transfer its 6.6% ownership in New Frontier Health to a fund controlled by Warburg Pincus. New Frontier Health operates 11 hospitals and 24 clinics under the United Family Healthcare brand.
