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Wednesday, 31 August 2016, 16:47 HKT/SGT
Jointly Establishing the International Land Port Hospital; Universal Medical and First Affiliated Hospital of Xi'an Jiaotong University to Sign the Official Agreement

HONG KONG, Aug 31, 2016 - (ACN Newswire) - Universal Medical Financial & Technical Advisory Services Company Limited ("Universal Medical" or the "Company"; stock code: 2666) announced, that to thoroughly implement "Thirteenth Five-Year Plan" and the instruction that President Xi has made in relation to "Build a Healthy China" on National Sanitation and Healthy Congress, supported by national policies like "encourage social capital to participate in public hospital reform in various ways" from the 3rd Plenary Session of 18th CPC Central Committee, the Company and the First Affiliated Hospital of Xi'an Jiaotong University officially signed the official agreement pertaining to the joint establishment of the International Land Port Hospital as a branch under First Affiliated Hospital ("ILP Hospital"). Guests who attended the signing ceremony include government officials in Shaanxi Province, Xi'an City and Xi'an International Port District, together with management representatives from China General Technology (Group), Xi'an Jiaotong University, the First Affiliated Hospital of Xi'an Jiaotong University and Universal Medical.

According to the agreement, Universal Medical will invest no more than RMB2 billion in total to establish the International Land Port Hospital by international standard. After the completion of the construction project, Universal Medical will charge construction and operation fee as income from the ILP Hospital. Meanwhile, the Company will establish an operation company with the First Affiliated Hospital through a project company. The operation company will be solely responsible for providing one or several types of services such as procurement and logistics to ILP Hospital, First Affiliated Hospital and other third party hospital, and will gain earnings through supply chain business by the operation company. The return on investment of this project mainly comes from construction and operation fee and earnings of the supply chain business.

As a public-traded subsidiary of China General Technology Group, which is a state-owned key enterprise, Universal Medical has provided customers with integrated healthcare solutions comprising medical financial services, medical technology, medical services and hospital digitalization services. The company is quite familiar with both domestic and overseas capital markets, cooperates with large amounts of domestic and international medical institutions and is fully equipped with a strong medical expert and management team, which enables it to provide a strong support in financing, medical technology and management for cooperative hospitals. The First Affiliated Hospital is directly managed by the National Health and Family Planning Commission of PRC and a leading comprehensive hospital with Class III-A grade in Northwest China. The collaboration between the two powers is bound to make ILP Hospital a comprehensive medical center integrating medicine, education, research, nursing and treatment, which will set up a model for the national healthcare reform.

The cooperation between Universal Medical and the First Affiliated Hospital is highly recognized by related officials of Shaanxi Province, Xi'an City as well as Xi'an International Port District who took part in the ceremony. The signing of the cooperation is of great importance in further completing healthcare infrastructure of Xi'an International Port District and its surrounding areas, establishing an advanced healthcare center in Northwest China and improving medical conditions for local residents, the guests say.

Aug 31, 2016 16:47 HKT/SGT
Topic: Press release summary
Sectors: Financial, Business, Biotech & Pharm
From the Asia Corporate News Network

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