IHG and Wanda Group Announce 10 year exclusive global hospital partnership
6 Jan 2016
Further to the partnership announcement between International Hospitals Group (IHG) and Wanda Group to build and manage the new 200 bed IHG Qingdao International Hospital (opening in 2018).
Further to the partnership announcement between International Hospitals Group (IHG) and Wanda Group to build and manage the new 200 bed IHG Qingdao International Hospital (opening in 2018), IHG has now signed a 10 Year exclusive agreement with Wanda Group to be their partner on all their hospital developments worldwide which was witnessed today (6 January 2016) by The Foreign Secretary, Philip Hammond.
Two projects have been initially prioritised under this second agreement: the first is a 1,000 bed hospital in Shanghai and the other is a 500 bed project in Chengdu. Wanda says it will invest up to £1.5 billion in the first three projects, with IHG targeting revenue of at least £300 million.
Chester King, Chairman, IHG Asia commented: ‘Further to September’s UK-China Health Policy meeting in London attended by Vice-Premier Liu Yandong and Minister of Health Li Bin, IHG is delighted to strengthen its relationship with Wanda Group and reinforce the China- Britain commitment of working closer together to help the global healthcare challenges’.
Wanda Chairman, Wang Jianlin commented: ‘We have chosen to work exclusively with IHG as they are a long established world class British healthcare company and look forward to improving the standard of healthcare in China and around the world.’
UK Foreign Secretary, Philip Hammond commented: ‘I’m very pleased to witness this very significant agreement. It highlights the UK’s leading position to meet growing demand for healthcare cooperation in China and as a partner of choice in a range of sectors. Our strong bilateral relationship positions us well for collaboration in a range of fields as we pursue our global strategic partnership.’