Chinese group Fosun expands health business in Portugal

Luz Saúde is investing 100 million euros in the expansion of Hospital da Luz in Lisbon, Portugal, a project to double its capacity and which will be completed in 2018, said Isabel Vaz, chief executive of the company.
The company is controlled by Chinese group Fosun through insurance company Fidelidade and both were acquired in 2014 following the collapse of the Espírito Santo financial group.
Vaz, introducing a partnership with Fidelidade with the launch of insurance against cancer risks, said “the expansion of Luz Saúde is running smoothly and organically,” and she did not rule out the analysis of other business opportunities.
The opening of a hospital in Angola was part of the plans of the former Espirito Santo Group healthcare company, but this plan is not a priority for the new owners, despite not being completely ruled out.
In June, John Ma who accompanied the acquisition of Luz Saúde on Fosun’s behalf, said investments in Fidelidade and Luz Saúde were advancing on schedule, albeit with caution.
Regarding the construction of a hospital in Angola, where Fidelidade is present, the Fosun official said that the operation had been planned but would not go ahead in the short term, noting “first we have to capitalise on and expand the business in Portugal.” MDT/Macauhub