October 5, 2016 / 12:52 PM / 2 years ago

Fosun eyes nearly $1 billion in Brazil hospital deals -report

SAO PAULO, Oct 5 (Reuters) - Chinese conglomerate Fosun International Ltd is in advanced talks to acquire Hospital da Bahia, a Brazilian hospital in the northeastern city of Salvador, for about 1 billion reais ($308 million), according to a newspaper report on Wednesday.

Brazilian business daily Valor Economico reported, without saying how it obtained the information, that Fosun was also looking to spend an additional 2 billion reais on other acquisitions to form a Brazilian hospital chain.

Representatives for Fosun and Hospital da Bahia did not immediately respond to requests for comment.

The reported negotiations follow the Fosun group’s first Brazilian investment in July, when the company acquired fund manager Rio Bravo Investimentos for an undisclosed sum.

Founded by billionaire Guo Guangchang, Fosun has grown into China’s biggest privately controlled conglomerate, with holdings ranging from medical companies to French travel group Club Med.

$1 = 3.24 reais Reporting by Brad Haynes; Editing by Lisa Von Ahn

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