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Fosun Pharma Inaugurates New Building for Israeli Subsidiary Sisram Medical

Fosun Pharma Inaugurates New Building for Israeli Subsidiary Sisram Medical

Fosun paid $240 million for a 95% stake in the Israeli cosmetic surgery in 2014, floating it on the Hong Kong Exchange in 2017

Golan Hazani  :  2019-02-26T10:06:50..
Sisram Medical Ltd. is a key company for Fosun Pharmaceutical’s business strategy, and has recently won the group's team prize for 2018, Fosun Pharma CEO Yifang Wu said Monday. Wu was speaking at the inauguration of Sisram's new complex in Caesarea, an affluent coastal town in central Israel.

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In 2014, Fosun paid $240 million for a 95% stake in Israeli cosmetic surgery company Alma Lasers, renaming it as Sisram Medical. In September 2017, Sisram raised $88 million in an initial public offering on the Hong Kong Stock Exchange.

Fosun executives with Israel Fosun executives with Israel's Minister of Economy Eli Cohen. Photo: Elad Gershgoran Fosun executives with Israel

In October, Calcalist first reported that Sisram has signed a 10-year lease for an 11,000-square-meter building in Caesarea. The new building, to which the company will relocate in a year from its current five separate buildings, will group Sisram's manufacturing lines, research and development operations, and headquarters.

Wu said the purpose of the new center is to boost Sisram's research and development capabilities and serve as an engine for future growth.

Israel's Minister of Economy Eli Cohen and the Chinese ambassador to Israel Zhan Yongxin were also present at the ceremony.
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