China Resources Verlinvest Health Investment Ltd. invests in Shanghai Red Sun Enterprise Management Co., Ltd.Nov 03, 2016
China Resources Verlinvest Health Investment (CR Verlinvest) signed on the 3rd November 2016 an investment agreement with Red Sun Enterprise (Red Sun), a Shanghai based nursing home operator, with a view of becoming the majority shareholder of Red Sun.
Red Sun is a leading senior care provider in the Yangtze delta area that focuses on quality senior care and services and looks to offer its residents the feeling of still living at home. Founded in 2006, the company has built up a full range of senior care services including care, rehabilitation and hospitality services. After more than ten years of development, Red Sun has become a leading operator in the Shanghai region and is recognized as a quality nursing home operator by both the government and the senior residents in Shanghai. Currently, the company operates more than 1,000 beds with 4 senior care facilities in Shanghai and Nanjing, and is developing one new project in Suzhou. In addition, Red Sun has provided senior care management services to multiple nursing homes in the Zhejiang province.
CR Verlinvest is a joint venture formed by Verlinvest and China Resources Strategic Investment Company (“CRC”) to invest in companies in the European, US and Chinese health and wellness markets, with a particular focus on European and US healthy food & beverage companies looking to enter the Chinese market and on senior care in China.
Mr. Nicholas Cator, as board of director of CR Verlinvest, signed the investment agreement with Mr. Bin Wu, co-founder and general manager of Red Sun. Mr. Yin Cheng – Chief Strategy Officer of China Resources Holding, and Ms. Qi Chen – co-founder and chairwoman of Red Sun, participated and witnessed the signing as well.
The investment in Red Sun will enable CR Verlinvest to build a leading quality senior care operator in China. Red Sun will benefit from the added value of both shareholders of CR Verlinvest, especially with CRC’s strong experience in real estate, healthcare and drugs in China, and Verlinvest’s experience in the senior care sector through its long term investment in Armonea, the leading Belgian senior care provider, with operations in Spain and Germany. CR Verlinvest will provide strong financial and operational support to Red Sun to help the company deliver its growth ambitions and become a leading nursing home brand in China, both in terms of quality and scale.