Chinese Government owned company buys stake in Australian health provider GenesisCare
A CHINESE state-owned company whose former chair was expelled from the Communist Party for corruption has bought a stake in Australia’s largest cancer and cardiac care service.
If approved, the purchase would mean a company owned by the Chinese Government will now have access to the personal health information of thousands of Australians.
GenesisCare treats more than 26,000 Australians a year, employs 1,400 people and has 125 clinics that include places like St Vincent’s and Flinders hospitals.
It is Australia’s largest provider of oncology, cardiology and sleep treatment and also operates in Spain and the UK.
The Foreign Investment Review Board has to decide whether the Chinese government-owned business together with doctors and Macquarie Bank can acquire between 50.01 and up to 74 per cent of the business.
The former chair of China Resources Song Lin was expelled from…
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