China’s popular conglomerate Wanda Group has entered into a strategic partnership with USA’s leading hospital UPMC. This has been done to jointly build international hospitals, as part of the company’s deeper entry into the country’s burgeoning healthcare sector.
Wanda is a property-to-entertainment conglomerate that will join forces with medical skills, management and services from UPMC. UPMC is a well-known medical group with over 30 hospitals in the US.
Under this program, the first batch of five hospitals will be launched in top-tier cities in the country, such as Beijing, Shanghai and Chengdu.
“Setting up a network of private hospitals in China can keep Chinese patients in their own country and attract international patients who live in nearby countries,” said Bruno Gridelli, executive vice-president of UPMC International.
The move came as China has made international hospitalsreform a top priority in the past years. Also, the Chinese consumers have greater demand for personalized and high-end medical care services. Wanda, whose business covers a wide range of industries including real estate, sports and entertainment, revealed its ambition to enter the healthcare sector back in 2016.