New Frontier Corporation and United Family Healthcare Announce First Half 2019 Financial Results for United Family Healthcare
NEW FRONTIER CORP (NFC)
Company Research
Source: GlobeNewswire
HONG KONG, Oct. 25, 2019 (GLOBE NEWSWIRE) -- New Frontier Corporation (NYSE: NFC) (“NFC”), a publicly traded special purpose acquisition company, and United Family Healthcare (“UFH”), a leading private healthcare provider offering comprehensive premium healthcare services in China, today announced certain financial results for UFH for the six months ended June 30, 2019. As previously announced, NFC and UFH entered into a transaction agreement pursuant to which NFC will indirectly acquire UFH in a business combination transaction (the “business combination”). The business combination is expected to close in the fourth quarter of 2019. UFH First Half 2019 Highlights (unaudited) Total revenue for the first half of 2019 increased by 21.8% to RMB 1.2 billion, as compared to RMB 990 million for the first half of 2018. This is increase is a result of organic growth and is in line with full year 2019 projected revenue growth of 21.5%(1).Total Adjusted EBITDA(1) for the first half of 2019
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