Singapore's Perennial Real Estate in China healthcare JV

 03-Jul-15, Channel News Asia

Local property group Perennial Real Estate Holdings is making a foray into healthcare for the first time through a joint venture (JV) in China which plans to acquire and develop hospitals.

Image: Channel News Asia

Perennial will be investing S$63 million for a 40 per cent stake in the JV while the remaining 60 per cent will be held by Guangdong Boai Medical Group Co, a subsidiary of China Boai Medical Group (BOAI), a China-based private hospital operators.

The joint venture company will then acquire Modern Hospital Guangzhou, one of the leading tumour and cancer hospitals in Guangzhou, from BOAI.

Perennial said the JV will focus on providing eight medical services at its hospitals and medical centres. They include oncology, fertility, obstetrics and gynaecology as well as plastic surgery and aesthetic medicine.

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