Putian cashes in on healthcare

Beijing

FOR years, Lin Yuming watched expectant mothers suffer through endless queues and delays at China's public hospitals. Spotting a business opportunity, the Chinese entrepreneur from the southern city of Putian went on to build a chain of women's hospitals - spruced up with pink decor and pianos in the foyer.

In July, Mr Lin's Harmonicare Medical Holdings Ltd, which is focused on obstetrics and gynaecology, listed its shares in Hong Kong and is ramping up its expansion. About 15 other companies running private hospitals from the city, which is across the strait from Taiwan, are in early stages of considering IPOs, says the Putian Health Industry Association, a group representing local businesses.