China Business News, 5/21/08
An inside source at out-of-home display media firm Health Media has revealed that the company plans to initiate a strategic merger with China's #3 health media company, Kangshi Media. Health Media CEO Fu Xinhua revealed that during Q1 of this year, the company acquired 8 related companies, including 3 national hospital LCD display operators and 5 local operators, increasing its coverage by more than 4000 LCD terminals to a current total of nearly 20,000 screens. The USD 60 mln merger will be used to increase individual screen coverage density in third-tier and higher hospitals, with an additional 25 screens per hospital to be installed. The company intends to list overseas in H1 2009.