[ET Net News Agency, 26 October 2018] China Resources Medical Holdings Company Limited
(CR Medical) (01515) said its wholly-owned subsidiary, China Resources Hospital Holdings
Company has entered into a cooperation agreement with China Energy Engineering Group
Assets Management Co., Ltd. (CEE Group) for the joint establishment of a professional
medical investment and operation platform and implementation of the reform and
restructuring of some Target Hospitals.
The Target Hospitals include hospitals and healthcare service centres, that are
currently sponsored by CEE Group, with 685 licensed beds in total.
CR Medical said the Target Hospitals are located in large cities (such as Beijing,
Guangzhou Nanning and Hefei) which are economically developed and densely populated. As
such, it is expected that this cooperation will strengthen the group's established
hospital network layout in Beijing and Guangzhou region, at the same time expanding the
network into new regions such as provinces in Southwest China. Meanwhile, the national-
and provincial- demonstration communities currently covered by the Target Hospitals are
expected to further optimise the group's urgent care clinic (UCC) business.
The board believes that the cooperation agreement will allow the group to generate a
long-term and stable income. (KL)