Wanda Group and International Hospitals Group announced that Wanda will invest RMB15 billion ($2.289 billion) to build three comprehensive international hospitals in Shanghai, Chengdu and Qingdao.
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The hospitals will be managed by IHG under its own brand, whereas in Chinese they will assume the name IHG Wanda International Hospital. This investment marks the largest of its kind in the healthcare sector for a Chinese company and is to be the first hospital project managed and operated by IHG in China.
Founded in 1978, IHG has completed over 450 healthcare projects in over 50 countries for private and public sector clients including 22 national Governments, the United Nations, the World Bank and the International Finance Corporation.
The three hospitals will be built in line with the highest international standards. Properties include the 1000-bed IHG Wanda International Hospital in Shanghai, with a proposed investment of RMB8 billion; the 500-bed IHG Wanda International Hospital in Chengdu, with a proposed investment of RMB5 billion; and the 200-bed IHG Wanda International Hospital in Qingdao, with a proposed investment of RMB 2 billion.
The properties will be developed in accordance with the highest international design and construction standards, and IHG shall ensure that the three hospitals obtain JCI (Joint Commission on Accreditation of Healthcare Organizations) or equivalent international accreditations.
IHG Wanda International Hospital in Qingdao will be located within the Qingdao Oriental Movie Metropolis, a development that is currently under construction and is scheduled to open in August 2018.
IHG Wanda International Hospital in Chengdu will be located in the Qinhuangsi Central Business District, in the city's Tianfu New District, and will occupy an area of 500 mu (around 333,000 square meters).
Construction is scheduled to begin in the first quarter of 2016. IHG Wanda International Hospital in Shanghai is also scheduled to undergo construction in the first quarter of 2016.
IHG shall appoint a foreign specialist to act as directors of each hospital and will select top-level doctors and medical staff to ensure that the quality of healthcare and operations conform to top international hospital standards. ■