Asian American Medical Group to Set Up Diagnostic Medical Center in Southern China
Published By : 13 Aug 2015 | Published By : QYRESEARCH
The Asian American Medical Group, based in Singapore, has decided to set up a diagnostic and wellness medical center in Southern China. The center will be established in Zhuhai and is aimed at leveraging on the development of medical tourism in the region.
The health care market in China is presently the third most rapidly developing one in the world and is anticipated to be worth a whopping US$ 1 trillion by the end of 2020.
Singapore based Asian American Medical Group will be gaining acquisition of Rich Tree Land Pte Ltd., which in March this year, successfully tendered for a land of 5,446 square meters. This parcel was tendered for S$ 19.6 million in the recent Zhuhai Free Trade Zone.
Zhuhai is located near Hong Kong and Macau with the potential to be much more accessible after the construction of the Hong Kong Macau Zhuhai Bridge, which will be completed in the latter half of next year.
The Zhuhai Singapore Life Science Park planned by the Asian American Medical Group is proposed to be a 12 story specialized ambulatory medical center, which will offer multi-disciplinary medical consultations, endoscopic and operation services, and health screening. The consultations will also include a one stop series of aesthetic services.
By the completion of this life science park in 2017, investments are estimated to run into approximately S$ 80 million.
The Asian American Medical Group will have the full support of the US healthcare group University of Pittsburg Medical Center, with which the company has had a strategic alliance since 2012.
The group has also decided to appoint Emerge Capital Partners, together with Aspire Strategy, as exclusive lead manager and adviser of the basic structuring of the project as well as raising capital for the same.
Asian American Medical Group announced on Wednesday that it had gained acquisition of 60 per cent of Rich Tree Land.