PC maker Tongfang set to make major healthcare investment

BEIJING - Tsinghua Tongfang Co, a technology arm of one of China's elite universities, is planning to acquire a stake in a maker of medical therapies, a deal that has the potential to emerge as the largest-ever investment in a Chinese healthcare company.

Tongfang is planning to buy up to 29.9 percent of Shanghai RAAS Blood Products Co, the two companies said in stock-exchange statements, adding that the terms of the transaction haven't been finalized as yet.

Based on the healthcare company's market value of $14.8 billion, purchasing a stake at that upper limit could cost more than $4.4 billion.