China's healthcare spending boom is creating med tech billionaires

For those few who may question how China's healthcare spending boom can benefit medical device companies and their investors, consider the story of Hao Zhenxi. Bloomberg reports that Hao founded, and he and his wife hold a 43.6% stake in Zhuhai Hokai Medical Instrument Co., an outfit that first launched in 1996 and makes medical equipment and devices that help treat cancerous tumors and supply medical gases. The company went public in China in 2011, and its stock has gained about 500% since then, jumping 40% this year alone as China's government healthcare spending has grown rapidly. That has made Hao and his wife billionaires, according to the story, with their shares and collected dividends worth more than $1.1 billion. Story

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