OUE Lippo Healthcare JV to operate hospital in China

OUE Lippo Healthcare's joint venture, China Merchants Lippo Hospital Management Shenzhen (CMLHM), has entered into a framework agreement with China Changjiang National Shipping Group Co and Shanghai Changjiang Shipping Co to incorporate a new joint venture company in China that will operate a hospital in Shanghai.

The Shanghai Changhang Hospital, which is currently managed by Shanghai Changjiang Shipping Co, is located in the Pudong New District area of Shanghai.

Under the agreement, CMLHM will hold a 51 per cent stake in the new joint venture company, while China Changjiang will hold the remainder.

Lee Yi Shyan, chairman of OUELH, said: "The rapidly growing healthcare market in China is an opportunity for us to bring the renowned Lippo healthcare experience to a wider population. The complementary partnership with China Merchants Group brings together our international healthcare expertise and their deep local market knowledge. Through this joint venture with China Changjiang, we will be able to better serve the China healthcare market."