RTTNews | Dec 28, 2020 07:01AM EST

07:01 Monday, December 28, 2020 (RTTNews.com) - Chinese healthcare provider Concord Medical Services Holdings Ltd.(CCM) announced Monday that it has agreed to sell 90% equity interest in Concord Healthcare Singapore Pte Ltd, which operates and owns a general medical and surgical hospital, namely Concord International Hospital (CIH) for a total consideration of approximately SG$52.2 million.

The purchasers have taken over the management of CIH and Concord Medical has ceased control over the management of CIH since the closing date in November 2020. Concord Medical has requested the purchasers to complete the renaming of CIH within the next six months or sooner.

Concord Medical's board of directors believes the transaction price reflects the fair market value of CIH based on a valuation report by an independent third-party appraisal company engaged by the Company.

Read the original article on RTTNews ( https://www.rttnews.com/3156321/concord-medical-to-sell-90-equity-interest-in-concord-healthcare-singapore-quick-facts.aspx)

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