Perennial to invest one billion yuan to open two hospitals in Guangzhou
[SINGAPORE] Integrated healthcare and real estate player Perennial Holdings on Tuesday (May 27) announced that it has entered into an agreement with Guangzhou Metro Group to establish a tertiary general hospital in Guangzhou, China.
This will be Perennial's second wholly foreign-owned hospital in China, after it opened the 500-bed Perennial General Hospital Tianjin earlier this year.
It will also be opening a specialist hospital, which will not be wholly foreign-owned. A spokesperson from Perennial told The Business Times that it may partner a specialist medical group to establish the specialist hospital.
Under the agreement, the Singapore-based group will lease around 105,000 square metres in the south-east tower of Yuesheng Plaza, adjacent to the Baiyun high-speed railway (HSR) station, and invest around one billion yuan (S$178.9 million) to establish the two healthcare institutions.
The two Guangzhou facilities will have a total planned capacity of more than 600 beds.
The two will use a shared medical facilities and services concept, allowing doctors and medical groups to focus on providing medical consultations and treatments without investing in medical facilities and services.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Sign Up
Sign Up
The shared medical platform will be provided and managed by Perennial, and will include facilities such as a clinical laboratory and advanced operating theatres. This concept is also being used in Perennial's Tianjin hospital.
'The model has been proven to offer convenience and cost efficiency to doctors and medical groups, allowing them to grow and scale their practices across Perennial's healthcare-centric HSR transit-oriented developments,' said the group.
The spokesperson told BT: 'We also have some specialist medical groups (that) are keen to be co-located with us to leverage our shared medical platform and our extensive network of patients and doctors of various medical disciplines.'
Work on the Guangzhou hospitals is expected to commence in July 2025 and be completed within one year.
Pua Seck Guan, executive chair and chief executive of Perennial, noted: 'Guangzhou is a destination of choice for medical care. Our hospitals' strategic location in Guangzhou Baiyun's city centre and their proximity to the Baiyun HSR station provide access to a population catchment of over 100 million across the Greater Bay Area.'
These hospitals come after China announced that it would permit wholly foreign-owned hospitals to be set up in nine trial regions – Beijing, Tianjin, Shanghai, Nanjing, Suzhou, Fuzhou, Guangzhou, Shenzhen and Hainan – aimed at diversifying medical services for locals and foreigners.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
8 hours ago
- CNA
Local food manufacturers staying competitive amid global trade uncertainty
The Singapore Food Manufacturing Association says more foreign companies are looking to break into the local market, especially with the country's position as a key trade hub amid the ongoing tariff uncertainty. Caitlin Ng finds out how local businesses are staying ahead amid this rising competition.
CNA
8 hours ago
- CNA
Retailers see growing interest in bugs as food since approval last July
Retailers say consumers show growing interest in insect-based foods, with some even repeatedly selling out stock. Others have begun innovating to appeal to various markets. Last July, the Singapore Food Agency approved 16 species of insects for humans to consumption. Natalie Ong with the reporting.
Independent Singapore
14 hours ago
- Independent Singapore
Former DPM Teo Chee Hean to take over as Temasek chairman in Oct, succeeding Lim Boon Heng
Photo: Facebook/Temasek SINGAPORE: Former senior minister Teo Chee Hean will succeed Mr Lim Boon Heng as the fifth chairman of Singapore's investment company, Temasek Holdings, the company announced on Friday (June 6). Mr Teo will first join Temasek's board as deputy chairman on July 1, before taking over as chairman on Oct 9, after the company's third-quarter board meeting this year. Mr Lim served 12 years as chairman during his 13-year tenure as Temasek's board director. Under his leadership, Temasek's net portfolio grew from S$223 billion in 2014 to S$389 billion in 2024. He led the company's global expansion in Europe and the US and its community efforts during the COVID-19 pandemic. He also built strong ties between Temasek, its portfolio companies, workers, and the government. 'In my 13 years at Temasek, I have been privileged to work with a capable, dedicated team unified by a strong sense of purpose and commitment to excellence. I am always inspired by my colleagues' collective conviction that, like generations before us, we must always act today with tomorrow clearly in our minds,' he said. Mr Teo, a former political stalwart, served as Deputy Prime Minister from 2009 to 2019 and later as Senior Minister until he left politics in May 2025. Temasek said Mr Teo's 'wealth of experience and strategic insights will bring valuable perspectives to Temasek as it continues to evolve and grow as a global investment company.' 'In this era of deepening global uncertainty, we must remain clear-minded on critical matters such as international relations, security, and climate change,' Mr Teo said. 'I look forward to working with Temasek's board, management team and members of the wider Temasek family to build on the achievements of Temasek and chart a path for its continued success in the new global environment,' he added. Mr Lim noted that Mr Teo's depth of experience in public service and his seasoned wisdom on both local and global affairs make him the right helmsman for Temasek. 'I am truly pleased that Chee Hean will guide Temasek into its next chapter of growth as a global investor,' he added. /TISG Read also: Warren Buffett to step down as CEO by year-end, hands Berkshire Hathaway reins to Greg Abel
