Published On: Sun, Apr 6th, 2014

China’s Sanpower in $70 million talks to buy Israeli Natali Seculife unit

Natali Seculife is in advanced talks to merge its international operations with China’s Sanpower Group at a value of $70 million.

Telemedicine provider Natali Seculife Ltd. is in advanced talks to merge its international operations with China’s Sanpower Group Ltd. at a value of $70 million. Natali Seculife will keep its Israeli operations and will continue to be run by chairman Yariv Lerner and CEO Nimrod Altman. Sky Fund owns 60% of Natali Seculife.
Sanpower, owned by billionaire Yuan Yafei, has retail, real estate, financial, services, and media interests. It just acquired 89% of British retailer House of Fraser for £350 million.

Natali Seculife, which mainly operates in Israel and has limited foreign operations, already cooperates with Sanpower. As part of the deal, Sanpower will acquire China Medical Telemedicine, which provides medical services for the elderly, and it will merge this business with Natali Seculife’s foreign operations.

Sanpower’s Israeli partner is Infinity Private Equity, which has extensive business interests, including investment funds, in China. Infinity is a partner in China Medical Telemedicine, and it presumably brokered the deal with Natali Seculife.

Natali Seculife has an estimated annual turnover of $50 million, and is profitable. It was created by the merger of Natali, founded in 1991, and Seculife, founded in 1998, to provide medical services for the elderly. Sky Fund invested $65 million in the two companies, and the current sale creates a substantial return on the investment. The company has hundreds of employees and had 100, 000 customers in 2011. It’s main rival is SHL Telemedicine Ltd. (SWX: SHLTN).

Published by Globes [online], Israel business news – 

Read more about: , , , , , ,

Wordpress site Developed by Fixing WordPress Problems