The hospital will provide obstetrics and gynaecology services.
Singapore-based OUE Lippo Healthcare (OUELH) and state-owned corporation China Merchants Group have formed a 50:50 joint venture (JV) for a hospital project in Changshu, Jiangsu Province, according to a press release.
Named as Changshu China Merchants - Lippo Obstetrics & Gynaecology Hospital, it will span a total gross floor area of 25,000 sqm with140 beds, and will provide obstetrics and gynaecology services, including paediatric and postpartum care, targeted at the affluent market segment. It is expected to be commissioned in 2023.
The hospital’s business will be structured based on a lease and operate model under a long-term lease of 19.5 years, with OUELH having a right of first refusal to renew the lease upon expiry of the lease agreement and to acquire the hospital property throughout the lease term.
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