A new UK-China hospital ten year exclusive global hospital partnership was recently signed. The agreement includes building and managing the new 200 bed IHG Qingdao International Hospital and future projects in Shanghai and Chengdu.
The Wanda Group www.wanda-group.com and International Hospitals Group (IHG) www.ihg.co.uk will invest up to €1.5 billion in the first three projects targeting revenue of at least €300 million. Trade and investment between the UK and China hit historic highs with up to €40 billion in deals signed during President Xi’s recent State Visit to the UK.
The UK expertise is sought after by Chinese companies seeking commercial healthcare partnerships from medical training to operating hospitals along with partnerships to invest in medicine especially for specific disease treatment.
This investment is the largest of its kind in the healthcare sector for a Chinese company and will be the first hospital project managed and operated by IHG in China. Since 1978, IHG has completed over 450 healthcare projects in over 50 countries for private and public sector clients.
According to IHG Asia Chairman Chester King, “The IHG-Wanda Group hospital development and management collaboration is a concrete example of the strength of the China-UK relationship in a critical sector within the Chinese and world economy.”