IHH HEALTHCARE BREAKS GROUND FOR GLENEAGLES SHANGHAI AS PART OF RMB8 BILLION PUSH INTO GREATER CHINA

Transcription

1 MEDIA RELEASE FOR IMMEDIATE RELEASE IHH HEALTHCARE BREAKS GROUND FOR GLENEAGLES SHANGHAI AS PART OF RMB8 BILLION PUSH INTO GREATER CHINA 450-bed Gleneagles Shanghai will provide integrated healthcare for residents in Yangtze River Delta and beyond when it opens in 2020 Part of RMB8 billion pipeline of hospitals across Greater China as IHH sets out to make China its fifth home market Strategic partnership with Taikang Insurance Group to accelerate China growth SHANGHAI, CHINA, 9 June 2017 IHH Healthcare ( IHH ), its strategic partner in Mainland China, Taikang Insurance Group ( Taikang ), and their project joint venture partner Shanghai Hongxin Medical Investment Holding Co Ltd ( Shanghai Hongxin ), today broke ground for Gleneagles Shanghai Hospital ( Gleneagles Shanghai ), a 450-bed multispecialty general hospital in Shanghai New Hongqiao International Medical Center ( NHQIMC ). The only foreign private joint venture hospital in NHQIMC, Gleneagles Shanghai is expected to require RMB1.36 billion of capital expenditure and is set to open in IHH s entry into NHQIMC will support the Central China government s ambition to develop Shanghai into a world-class medical destination for China nationals, medical tourists and expatriates while also providing additional healthcare options for local residents. Gleneagles Shanghai marks the next phase of growth for IHH in Greater China, having established a firm foothold in its primary care sector over the last decade. It is part of an RMB8 billion pipeline of hospital projects that will deliver quality healthcare options for patients across key regions, paving the way for Greater China to become IHH s fifth home market after Malaysia, Singapore, Turkey and India. Besides Gleneagles Shanghai, the Group opened the 500-bed multispecialty hospital Gleneagles Hong Kong in March 2017, and will progressively open the 350-bed general hospital Gleneagles Chengdu in 2018 and the 70-bed obstetrics and gynaecology hospital Gleneagles Nanjing in To further accelerate its growth in the Mainland, IHH entered into a strategic partnership with Taikang to leverage their complementary strengths in healthcare and insurance. With the completion of the transaction in April this year, IHH and Taikang will jointly fund future projects in proportion to their shareholdings in an IHH subsidiary (IHH: 70.1%, Taikang: 29.9%) that manages its primary care portfolio as well as new hospital projects in the Mainland. For the development of Gleneagles Shanghai, IHH and Taikang have entered into a 70:30 joint venture with Shanghai Hongxin, a majority-owned subsidiary of Shanghai New

2 Hongqiao International Medical Center Construction Development Co Ltd. Paul Gregersen, Chief Executive Officer for Greater China, Parkway Pantai, a whollyowned subsidiary of IHH Healthcare, said: We are proud to anchor our growth in Greater China with Gleneagles Shanghai, and are honoured to be the only foreign joint venture general hospital in NHQIMC. We look forward to supporting the Government s ambition to provide more quality healthcare options for locals and develop the city into a world-class medical destination. Dr Tan See Leng, Managing Director and Chief Executive Officer of IHH Healthcare and Group Chief Executive Officer and Managing Director of Parkway Pantai, said: Greater China is our key growth market and we are committed for the long haul. We are confident of our prospects, given the rising demand for quality healthcare here and recent reforms by the government to open access for private investors to develop private hospitals and broaden health insurance coverage. With our global track record in delivering outstanding patient care and clinical outcomes, we are in a strong position to meet China s enormous healthcare needs. Gleneagles Shanghai Hospital will be built on a 35,754 square metre site acquired on a leasehold basis for 50 years. A comprehensive range of specialties and healthcare services will be offered, with a focus on seven key specialties: cardiology, cardiac surgery, gastroenterology, urology, minimally invasive surgery, general surgery and internal medicine. Located near the Shanghai Hongqiao International Airport and high-speed railway station, it will leverage IHH s existing network of medical centres in the city and its more than 40 years of experience in hospital management globally to offer quality integrated care. Media Enquiries Lim Bee Ling t e. beeling.lim@parkwaypantai.com Kit Mention t e. kit@we-redbridge.com Ong Chor Hao t e. chorhao.ong@watatawa.asia

3 Artist s impressions of Gleneagles Shanghai Hospital

4 From left to right: Mr Lin Bin, Gleneagles Shanghai Hospital Company Limited Board Supervisor, Mr Paul Gregersen, Chief Executive Officer for Greater China of Parkway Pantai, Dr Lim Suet Wun, Group Chief Operating Officer of Parkway Pantai, Dr Tan See Leng, Managing Director and Chief Executive Officer of IHH Healthcare and Group Chief Executive Officer and Managing Director of Parkway Pantai, Dato Mohammed Azlan Bin Hashim, Deputy Chairman of IHH Healthcare and Chairman of Parkway Pantai, Mr Hang Wen Quan, Director, Health and Family Planning Commission of Minhang District, Ms Ling Pei Wen, Deputy Director, Management Office of Minhang District, Mr Yang Jie, Chairman of Shanghai New Hongqiao International Medical Center Construction Development Co. Ltd, Mr Qiu Xichun, Vice President of Taikang Insurance Group, Mr Tan Zuyu, CEO of Beijing Taikang Investment Co. Ltd

5 About Gleneagles Shanghai Hospital Gleneagles Shanghai Hospital is a 450-bed multi-specialty tertiary hospital co-developed by Parkway Pantai Limited (a wholly owned subsidiary of IHH Healthcare), Taikang Insurance and its project joint venture partner Shanghai Hongxin Medical Investment Holding Co Ltd. As the only foreign joint venture general hospital in the Shanghai New Hongqiao International Medical Center, Gleneagles Shanghai adopts international standards in hospital design and management philosophy to deliver a world-class patient experience when it opens in The hospital will leverage Parkway Pantai s existing network of medical centres in Shanghai and its close proximity to the Hongqiao airport and high-speed railway station to provide integrated healthcare services for residents in the Yangtze River Delta and beyond. About Parkway Pantai and IHH Healthcare Parkway Pantai is a wholly-owned subsidiary of IHH Healthcare Berhad. IHH Healthcare is a leading premium healthcare provider in markets where the demand for quality care is strong and growing. We are the second largest healthcare group in the world by market capitalisation and are listed on the Main Market of Bursa Malaysia and the Main Board of SGX-ST. Employing more than 35,000 people and operating over 10,000 licensed beds across 50 hospitals in 10 countries worldwide, the Group offers the full spectrum of integrated healthcare services from clinics to hospitals to quaternary care and a wide range of ancillary services across our three operating subsidiaries: Parkway Pantai Limited is one of Asia's largest integrated private healthcare groups with a network of 28 hospitals throughout the region, including Malaysia, Singapore, India, China, Brunei and UAE. Its Mount Elizabeth, Gleneagles, Parkway and Pantai brands are among the most prestigious in Asia. Acibadem Holdings is Turkey s leading private healthcare provider, offering integrated healthcare services across 22 hospitals in Turkey, Macedonia, Bulgaria and Iraq. The Acibadem brand is renowned for its clinical excellence in the Central & Eastern Europe, Middle East and North Africa ( CEEMENA ) region. IMU Health is IHH s medical education arm, and oversees the established higher learning institutions of International Medical College ( IMC ) and International Medical University ( IMU ) in Malaysia. IHH is the leading player in our home markets of Malaysia, Singapore, Turkey and India, and key growth markets of China and Hong Kong. For more information, please visit

6 About Taikang Insurance Group Established in 1996 and headquartered in Beijing, Taikang Insurance Group Inc. (previously named Taikang Life Insurance Co., Ltd.,) is a leading insurance and financial group in China. Taikang has three core business lines, namely insurance, asset management, and health and elderly care. As at 31 March 2017, Taikang had assets under management exceeding RMB 1 trillion. For more information, please visit: About Shanghai Hongxin Shanghai Hongxin Medical Investment Holding Co Lt is a China-incorporated healthcare infrastructure investment and development, asset management, consultancy services and real-estate management company. It is majority owned by Shanghai New Hongqiao International Medical Center Construction Development Co Ltd, which belongs to Shanghai Minhang District SASAC (State-Owned Assets Supervision and Administration Council). Shanghai New Hongqiao International Medical Center Construction Development Co Ltd was set up in May 2011 to oversee the infrastructure development and business services of the Shanghai New Hongqiao International Medical Center.