Singapores IHH Healthcare to set up Tertiary Medical Unit in Chengdu

Published By : 15 Oct 2015 | Published By : QYRESEARCH

Singapore’s IHH Healthcare in a statement on Thursday announced that the group and Shanghai Broad Ocean Investments Co Ltd, its partner, will be operating a 350-bed tertiary medical facility in China’s Chengdu at Perennial International Health and Medical Hub. Both the companies have signed a lease agreement with Perennial Real Estate Holdings Ltd for this venture. 

As part of the agreement, M&P Investments Pte Ltd - IHH Healthcare’s indirect fully-owned subsidiary and Broad Ocean will lease a space of around 48,000 square meters at the Chinese hospital through their joint venture. 

The lease will be subject to Broad Ocean and M&P obtaining the required regulatory and government approvals that will allow them to set up a joint venture company to run the hospital operations, the statement read. 

The ParkwayHealth Chengdu Hospital is reportedly the first tertiary medical facility of IHH Healthcare in Chengdu, under Parkway Pantai Ltd., its largest operating subsidiary. The new hospital complements the existing presence of IHH Healthcare in mainland China, where the group presently operates 11 medical centers.

Chief executive officer and managing director of IHH Healthcare Dr Tan See Leng said that the ParkwayHealth Chengdu Hospital will be additionally fuel the growth of the group into the tertiary sector in China and also offer an opportunity for the group to climb the value chain in a major growth market. 

He added that the strategic location of ParkwayHealth Chengdu Hospital will allow the group to tap into the growing demand for quality health care in the fast developing western region. It is also another major step towards establishing itself as a major global health care provider in Hong Kong and Greater China. 

The ParkwayHealth Chengdu Hospital will be providing specialized services and care such as gynecology, obstetrics, cardiology, pediatrics, ophthalmology, orthopedics, and internal medicine.

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