As the world’s second-largest healthcare market, China spends about $575 billion a year on the sector, roughly equivalent to Sweden’s GDP. But because of China’s large population, that translates into only $420 in per capita healthcare spending, just 4% of what an average American spends. This healthcare supply shortage is exacerbated by rising demand from wealthier Chinese who seek quality care, better insurance, and diverse services.
On the regulatory side, the Chinese government continues to reform the healthcare sector by allowing doctors to work
outside the public hospital system, encouraging the privatization of hospitals, and expanding public healthcare insurance to cover private hospitals.
The significant mismatch between supply and demand, coupled with policy changes to support the sector, have incentivized private investment to flock into areas ranging from advanced pharmaceuticals and medical devices to primary care clinics, elderly care, and insurance products.
Hunan Jingfeng Pharmaceutical Co., Ltd.
Company Overview
Hunan Jingfeng primarily manufactures and supplies biomedicines. The company focuses on cardiovascular diseases and anti-cancer drugs. Some of its products have gained approval in the United States, the European Union, and Japan.
Ye Xiangwu
Pingjiang, Hunan
(731) 8891.3276
ir@jfzhiyao.com
Global Presence
In July 2016, the company acquired New Jersey-based Sungen Pharma LLC through its subsidiary for $250,000 and invested another $4 million into the target company. Sungen Pharma, a maker of generic pharmaceutical products, had jointly established DBA Peterson Pharmaceuticals with Buffalo-based Peterson Pharmaceuticals LLC in September 2016. The DBA joint venture became the marketing and sales arm of Sungen Pharma.