|
กก
China Health Care Corporation (CHCC) Signs
Letter of Intent to Acquire a General Hospital Along With Special
Obstetrics License in Beijing
Sep 06, 2008
China Health Care Corporation (OTCBB: CNHL) announced that it has
entered into a letter of intent to acquire a 70% controlling
ownership of a general hospital along with a special obstetric
license in Beijing. The acquisition, which is expected to be
completed before year-end 2008, is subject to due diligence and
other closing conditions. The licenses will allow CHCC to provide
its core competency of comprehensive maternity and gynecological
care along with additional general medical and surgical services to
the ever growing middle class population.
The facility will be managed by the highly China-experienced
management team of CHCC, under its China operating brand United
Premier Medical Group, that has to date commissioned and managed VIP
Maternity & GYN Centers in cooperation with government and privately
owned Chinese hospitals throughout 1st, 2nd and 3rd tier Chinese
cities since 2002.
The general hospital is licensed for 60 beds. It has an outpatient
clinic and two inpatient floors totaling about 3000 square meters.
The facilities and imported medical equipment were originally set up
based on Western standards by an American OB/GYN physician. This
will allow CHCC to turnkey the facilities for obstetrics and
gynecology services with minimal upgrading necessary in order to
provide international standard healthcare services.
The Beijing area offers substantial future growth opportunities for
the facility. With a population in 2006 of 15 million and an annual
birth rate of about 1.34%, Beijing has witnessed an 11% plus
economic growth on average for the last five years (source: China
Statistical Yearbook, 2007).
The Hospital, established in 2005, is located in the upscale
Chaoyang district of Beijing and provides high-quality VIP
obstetrical services in a clean and welcoming environment at a
reasonable price. With 2007 revenues of approximately $600,000 USD,
the Hospital has achieved a steady increase in the number of
patients and revenues. Once the Hospital is acquired by CHCC and
managed full time by the highly China-experienced management team,
significant growth potential is expected to be realized by
increasing its market share of the Beijing birthing market.
CHCC will utilize this facility as a flagship prototype for its
community based spoke clinic/hub specialty hospital business model.
The Company expects to acquire additional specialized OB/GYN
specialty facilities like the Beijing Hospital as it expands into a
multi-specialties clinic/hospital network in other Chinese urban
markets with the focus on primary care services of OB/GYN,
pediatrics and internal medicine supported by additional appropriate
and profitable sub-specialty medicine.
Jay Macfarland, CEO of China Health Care Corporation, commented,
"This acquisition is an important watershed step in our strategic
plan to become a leader in providing superior quality women and
children services to the Chinese marketplace in an equity ownership
business model. In addition to the VIP Maternity & GYN centers
managed by the Company throughout China, these facilities provide
the Company with important bases for further growth in both the
Shanghai and Beijing markets. We continue to see rapid growth in
domestic demand particularly for premium health services in China."
About China Health Care Corporation (CHCC)
China Health Care Corporation (CHCC), through its China operating
arm known as United Premier Medical Group (UPMG), has developed a
network of maternal-child facilities in Greater China including
Macao. The target market segments of these services are the rapidly
growing Chinese middle and upper classes. Founded in 2001, with a US
headquarters in Dallas, Texas, CHCC has positioned itself to be a
pioneer in providing premium services by integrating Western
medical/management methodologies and Eastern efficiencies. The
Company's goal is to become a leader in the specialty hospital and
family-oriented, primary-care markets. For further information,
please see http://www.china-healthcare.us
กก
กก |
