Chinese group Fosun has decided to increase its investment in Portugal’s health sector, online news portal Macauhub reported on Tuesday.
Fosun’s subsidiary Luz Saúde is investing 100 million euros (US$109.5 million) in the expansion of Hospital da Luz, located in the Portuguese capital, Lisbon.
Isabel Vaz, Chief Executive of Luz Saúde, said – as quoted by the media outlet – the investment aims to double the hospital’s capacity. The expansion is due to be completed in 2018, she added.
Fosun controls Luz Saúde through insurance company Fidelidade.
Luz Saúde, formerly a unit of the Espírito Santo group, had plans to open a hospital in Angola. But in June, John Ma – who assisted in the acquisition of Luz Saúde on Fosun’s behalf – said that idea was on hold in the short term. He noted the group first wanted to “capitalise on and expand the business in Portugal”.
