Markets in Asia today continued yesterday’s positive session after manufacturing output from China in December hit its highest level since 2013. The Shanghai Composite was up 0.64%. But despite signs of economic recovery, gains remain capped by concerns about a persistently declining yuan. “CNY, bubbles in bonds and property markets, and a potential US-China trade war are the main risks for China in 2017. We are negative China,” said Willie Chan, analyst at Maybank Kim Eng in Hong Kong bluntly. Elsewhere Japanese stocks jumped 2.51% as traders returned after a four-day long weekend, boosted by a strong US dollar and the best Nikkei Japan Manufacturing Purchasing Managers’ Index figures for 13 months.
 
Beijing-based paediatric healthcare provider New Century Healthcare plans to raise up to HK$763.2 million (US$98.4 million) in an IPO on the Hong Kong Stock Exchange. Guidance for the 120 million shares is HK$6.36-HK$8.36 per share. China Life Reinsurance has come in as a cornerstone investor. Sponsors are BoAML and CICC. The IPO is expected to price on 11 January while trading starts on 18 January.
 
Malaysian medical services company Adventa has reported a 78% slump in profits to M$700,000 (US$156,250) for the year ended 31 October, on revenues that declined 4.7% to M$39.9 million. HLIB Research maintains its “hold” with a lower target price of M$0.66 based on the group’s home renal dialysis business. Its shares were last seen down 1.47% at M$0.67.
 
Optiscan Imaging, which develops microscopic imaging technologies for medical markets, has raised A$1.9 million (US$1.4 million) in a share placement. The company placed 38.65 million new shares at A$0.05 per share. The offer was not underwritten. Its shares were last seen down 1.72% at A$0.06.
 
A couple of analyst reports worth having a look at. HLIB Research is positive on the investment in China by IHH Healthcare. Before Christmas, its 350-bed hospital in Chengdu received a 20-year business license from the Chengdu Administration of Industry & Commerce. “We are positive on the investment as this partnership will further solidify the group’s presence as an international healthcare provider in Greater China with their first tertiary facility in the Western Region,” noted analyst Ket Ee Sia. It maintains IHH as a “hold” with a target price of M$6.32. Its shares were last seen up 0.16% at M$6.39.
 
And CIMB Equities research has upgraded Malaysia’s glove sector to “overweight” thanks to a strengthening US dollar. “Moving into 2017, we expect the US dollar to strengthen further given the potential of further US Fed rate hikes and bond fund outflows. This will lead to a more conducive environment for glove makers to operate in,” it said. Its top picks are Top Glove and Supermax.
 
Hang Seng-listed Golden Meditech has agreed to sell its entire equity stake in China Cord Blood Corporation to Nanjing Xinjiekou Department Store, which operates department stores primarily in Jiangsu province, for Rmb5.8 billion (US$840 million).
 
Medical device manufacturer PW Medtech Group has agreed to sell three subsidiaries to Zhangjiakou Guorong Enterprise Management for Rmb450 million.
 
Parkway Life REIT, which is owned by IHH Healthcare, has sold four of its nursing homes in Japan to Fortress Japan Investment for ¥3.72 billion (US$33.7 million). The properties are the Bon Sejour Ibaraki, Legato Higashi Sumiyoshi, Legato Katano, and the Royal Residence Gotenyama, all in Osaka Prefecture.
 
First REIT, Singapore’s first healthcare real estate investment trust, has completed the acquisition of Siloam Hospitals Labuan Bajo for S$20 million (US$14.4 million). It expands First REIT’s portfolio from 17 to 18 properties and broadens its asset size by 1.6% to S$1.29 billion.
 
Britain’s Premaitha Health, a molecular diagnostics company, intends to acquire Taiwan’s Yourgene Bioscience which distributes non-invasive prenatal screening system for £6.8 million (US$8.4 million) as well as US$500,000 in cash.
 
Traditional Therapy Clinics (TTC), the owner and franchisor of the largest traditional therapeutic health and wellness clinics in China, has made its third acquisition in ten days with the purchase of a clinic in Yangshuo, Guangxi Province for Rmb7.1 million. This clinic is TTC’s first self-owned clinic in Yangshuo.
 
First Myanmar Investment, the first company to list on the Yangon Stock Exchange, has increased its stake in the Pun Hlaing Siloam Hospital (PHSH) by US$5.4 million. First Myanmar already owns a 60% stake in the company – a joint venture with Indonesian conglomerate the Lippo Group.
 
Azure Healthcare, a provider of healthcare communication and clinical workflow management solutions, has completed the sale of its CellGuard business to an unnamed private company for A$1 million.
 
Mei Hong, the controlling shareholder of Rici Healthcare, a private general medical services group in the Yangtze River Delta has increased his stake in the company to 54.81%.
 
Singapore-based Cordlife Group, a healthcare company which provides cord blood and cord lining banking services, has extended the closing date and time for acceptance of its takeover of Malaysia’s StemLife to 30 January. At the end of play yesterday it held 97.85% of StemLife shares.
 
Sydney-based medical appointment booking service 1st Group has secured a purchase order for a business partnership agreement with Mylan subsidiary Alphapharm. Under the initial phase of the partnership the group will roll out 1stAvailable and GObookings' services to a chain with 320 pharmacies and 90 retail stores.
 
In people news, CR Phoenix Healthcare, China’s largest private hospital group, has named Wu Potao as its new chief executive. This follows the resignation of Zhang Xiaodan. And Auckland-based ehealth software company Orion Health has appointed John Halamka as an independent director of the company. Halamka is the International Healthcare Innovation professor at Harvard Medical School.