Singapore’s Perennial setting up 500 million yuan general hospital in Shanghai

Singapore-based real estate and healthcare company Perennial Holdings announced on Thursday (Jul 31) that it has entered into a partnership with the Lujiazui Administrative Bureau of the China (Shanghai) Pilot Free Trade Zone and Shanghai Lujiazui, to establish the first wholly foreign-owned tertiary general hospital in Shanghai.

Perennial General Hospital Shanghai’s total investment cost is expected to amount to 500 million yuan (S$90.2 million), with a planned capacity of 500 beds.

A foreign medical investment company will be incorporated in the Lujiazui District, Shanghai, to establish the hospital, said Perennial Holdings.

The hospital will feature a team of medical experts from China and other countries. Aside from general medical areas such as internal medicine, surgery and health screening, it will house centres of excellence with specialisations including orthopaedics, oncology, cardiovascular diseases and otolaryngology.

The healthcare company said that the hospital will be built according to international standards, integrating advanced medical equipment and technology, as well as global service standards. It will also be designed with a garden-style environment, serve as a platform for global medical exchange, and foster collaboration and sharing of clinical expertise, the group added.

This move reaffirms the long-term confidence that Perennial Holdings has in China’s healthcare market, said executive chairman and chief executive Pua Seck Guan.

“Shanghai is witnessing a burgeoning demand for premium and personalised medical services. The Perennial General Hospital Shanghai will leverage its strategic location to serve both local residents and expatriates in the city, and introduce innovative medical treatments and packages for high-net-worth international clients to support the growth of Shanghai’s medical tourism sector,” he added.

Perennial Holdings has five healthcare-centric transit-oriented developments typically integrating medical care, eldercare and hospitality components, connected to high-speed railway stations located in Tianjin, Kunming, Chengdu, Xi’an and Chongqing in China.

It manages and operates over 25,000 beds in medical and eldercare facilities, comprising about 16,000 operational beds and over 9,000 beds in the pipeline, across 15 cities in China and Singapore. It is set to launch a private integrated rehabilitation and traditional Chinese medicine sanctuary in Singapore, the group said.