Fosun Pharma backs subsidiary's growth with guarantee

Shanghai Fosun Pharmaceutical Group (Fosun Pharma, SSE:600196) has announced it will provide a guarantee for its subsidiary, Jianjia Medical Investment Management, as it continues to develop its operations. Jianjia Medical will provide a guarantee of up to CNY 11 million for Shanghai Jianjia Rehabilitation Hospital's financing from Bank of Communications. In turn, Jianjia Medical will provide a counter-guarantee by mortgaging some of its own facilities and equipment.