Perennial Real Estate boosts healthcare aspirations with 20% stake in child health firm

The deal is worth an estimated $28.7m.

Aiming expand its footprint in the healthcare sector, Perennial Real Estate Holdings has acquired a 20% stake in Shenzhen Aiigong Modern Maternal and Child Health Management, a maternal and child health management company that specialises in post- and neo-natal care in Shenzhen and Beijing.

According to a report by DBS, Aidigong is one of the leading post- and neo-natal care centres in both cities, and it currently owns five centres, including its new 89k-sqft centre at Perennial’s Chengdu Medical Hub, expected to open by end- 2016/2017.

DBS said the acquisition is in line with the firm’s long-term strategy to expand its healthcare segment, as well as to grow a portfolio of holistic medical and healthcare services.
“Moving forward, management will continue to explore strategic partnerships/joint ventures with leading medical and healthcare-related operators and is optimistic on its pipeline of business opportunities in this segment,” DBS said.