China's Aier Eye Hospital announced the purchase of Spain's Clinica Baviera, S.A., the largest eye clinic group in Europe.
Aier will spend 152 million euros (161 million U.S. dollars) to buy 59.353 percent of shares in Baviera through its subsidiary in Europe, with shares valued at 10.35 euros each.
Chen Bang, chairman of the board of Aier Eye Group, described the purchase as "an important milestone" in the firm's development.
Aier Eye Hospital is China's largest private ophthalmic medical chain institution and went public on the Shenzhen stock market in 2009. By 2016, Aier has developed more than 160 specialized eye hospitals in China.
It acquired a medical group in Hong Kong in 2015 and a U.S. eye center in January 2017.
Baviera, specializing in the laser eye surgery, has nearly 300 ophthalmologists and 76 eye clinics in Europe. Its market share in laser eye surgery ranks first in Spain and Germany.
