Jinpeng to acquire Israeli healthcare provider

Updated: 2014-03-25 16:24

By XIE YU in Shanghai (chinadaily.com.cn)

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Guangzhou-based Jinpeng Group will acquire Natali Healthcare Solutions, the largest private healthcare and homecare service provider in Israel, China Business News reported on Monday.

The newspaper cited a source close to the deal as saying that Natali is a quality cash cow and will explore business opportunities in the elder support industry in China and Southeast Asia after the acquisition.

The deal is worth about $100 million and is expected to be inked soon, CBN reported. Jinpeng, a company focused on security system development, is a wholly owned subsidiary of Guangzhou-based Sanpower Group, a conglomerate focused on IT and services industries.

Established in 1991, Natali holds a 60 percent share in Israeli's elderly care market and offers services including doctor's house calls, first aid telemedicine services and retirement solutions. Average annual net profit over the last three years reached $10 million, CBN reported.

China's population is aging quickly. The number of people above age 60 in China in 2050 is projected to increase to 437 million, or 30 percent of the population, compared with 194 million, or 14.3 percent, in 2012, Xinhua News Agency said earlier.

Jinpeng to acquire Israeli healthcare provider

Jinpeng to acquire Israeli healthcare provider