KKR forms management company to provide health care services in China
KKR announced the creation of SinoCare Group, a hospital investment and management platform company in China. SinoCare aims to provide high-quality health care services to patients in China through the acquisition, build-out and consolidation of hospitals. SinoCare will work alongside KKR to bring top medical resources and management experience that aim to improve service capabilities and operational efficiencies to health care service providers within the SinoCare platform, as well as to address the high demand for quality medical services in China. The Company will build its platform through organic growth and acquisitions. Additionally, KKR's support will enable partner hospitals and care centers to be on the leading edge of health care technology and global best practices. In conjunction with the launch of SinoCare, KKR also announced that the Company has acquired a majority stake in leading Chinese hospital management company, HeTian Hospital Management Co. The investment will support HeTian's continued development of new medical practice areas, its expansion plans and scope to service more patients. The partnership between HeTian and SinoCare aims to serve as a model for how Chinese health care providers can be substantially enhanced through the support of a leading international investor and increased access to global best practices and medical resources.