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| Deals/Disputes/IPO Monitor |
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| Title: |
Founder Group acquires Wuhan National Medicine Group (2008) |
| Type： |
M&A |
Parties
Involved: |
Founder Group and Wuhan National Medicine Group |
| Description： |
Founder Group, a leading Chinese IT company that is seeking to diversify into healthcare, recently completed the acquisition of Wuhan National Medicines Group (WNMG), a leading pharmaceutical distributor in Hubei province.
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Additional
Info/Comments: |
WNMG has five fully-owned drug wholesaling subsidiaries and partly owns five other companies. The company had an annual sales of CNY 250 million in 2007, and 90% of its sales was generated from hospitals.
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