Fosun's Portuguese Decade: A Win-Win Globalization Journey

Fosun, a global innovation-driven consumer group, embarked on its Portuguese journey in 2014, transforming the country's insurance, banking, and healthcare sectors. Ten years later, Fosun's investment strategy and ecosystem approach have led to a decade of growth and mutual benefit for both the company and Portugal.

Fosun's investment strategy adapted to Portugal's economic conditions, particularly its response to the Eurozone financial crisis. In 2013, Portugal faced severe financial shortages, with an unemployment rate of 17%. Fosun identified an opportunity during Portugal's privatization measures, acquiring leading insurance company Fidelidade for approximately €1 billion in 2014. Later, Fidelidade acquired a 96% stake in Espírito Santo Saúde's hospital operations for €460 million, renaming it Luz Saúde. In 2016, Fosun acquired a 16.7% stake in Millennium BCP, later increasing it to approximately 20%.



Cross-sector synergies played a crucial role in the growth of Fosun's investments in Portugal. The integration of insurance, banking, and healthcare services within Fosun's ecosystem strategy led to enhanced profitability. For instance, families purchasing Fidelidade insurance could access premium medical services through Luz Saúde and financial products through Millennium BCP. This empowered the three companies, expanding profit margins.

Fosun's ecosystem approach significantly bolstered the Portuguese economy, job market, and global expansion of local businesses. The integration of insurance, healthcare, and banking created a synergistic ecosystem that enabled local families to access premium medical services and financial products. This approach generated a year-on-year increase of 5.9% in Fidelidade's gross written premiums and a 5.3% rise in net income by June 2024. Additionally, Fosun supported Luz Saúde in expanding hospitals, creating nearly 1,000 jobs, and facilitated the issuance of Europe's first UnionPay card by a local financial institution, benefiting international clients visiting Portugal.



The success of Fosun's ecosystem model in Portugal influenced its expansion into other Portuguese- and Spanish-speaking countries. Guo Guangchang, Chairman of Fosun International, stated, "Portugal boasts an open market, a favorable investment environment, and a steadily progressing government, making it one of the most important countries for Fosun's global development outside of China." This has led Fosun to further position Portugal as a critical gateway for investments in Portuguese- and Spanish-speaking countries, strengthening its connections with more global markets and regions.

Fosun's decade-long journey in Portugal demonstrates the power of ecosystem integration and strategic investments. By adapting its investment strategy to Portugal's economic conditions and fostering cross-sector synergies, Fosun has created a win-win scenario for both the company and the country. As Fosun continues to expand its global footprint, its successful ecosystem approach in Portugal serves as a blueprint for future investments.