JPMorgan's Principal Investment Management group to invest $50M in Chindex Int.
November 07, 2007: 10:24 AM EST BOSTON, Nov. 7, 2007 (Thomson Financial delivered by Newstex) --
Chindex International Inc. (NASDAQ:CHDX) said Wednesday that it has agreed to a $50 million dollar investment by JPMorgan's (NYSE:JPM PRH) (NYSE:JPM PRX) (NYSE:JPM PRK) (NYSE:JPM PRJ) (NYSE:JPT) (NYSE:JPM) Principal Investment Management group.The Bethesda, Md.-based provider of healthcare services and products in China said the investment will consist of $10 million of its common stock and $40 million of zero coupon convertible notes, with both having a purchase price of $27.84 a share.Proceeds from the investment will be used primarily toward the development of new hospitals in China, the company said.Shares of Chindex International rose 1.31% to $30.96.Casey LoganCopyright Thomson Financial News Limited 2007. All rights reserved. |