Pharma tycoon looks for overseas healthcare deals

Liu Dianbo, chairman of Luye Group Ltd, is on a hunt for overseas healthcare businesses as he seeks to expand beyond pharmaceuticals and tap rising demand from more affluent Chinese for higher-quality services.

After agreeing to buy an Australian hospital operator in a $688 million deal last year, the group is looking for more hospital assets to acquire outside China, Liu said in an interview this week in Jiangsu province. A professor-turned businessman, he plans to list Luye's healthcare arm in Asia within three years.

The group already has a publicly traded pharmaceutical business - Luye Pharma Group Ltd, which sells drugs for conditions including cancer and cardiovascular disease.