JIAXING, China--(BUSINESS WIRE)--Columbia China, a 50-50 joint venture between Seattle’s Columbia Pacific Management and Singapore investment company Temasek, started construction today on a 500-bed multi-specialty hospital in Zhejiang Province.
Columbia Jiaxing Hospital, which is set to open in 2019, will cost US $150 million (RMB 1 billion) to construct and is Columbia China’s second greenfield hospital.
Columbia China currently operates Shanghai Kaiyuan Orthopedic Hospital (232 beds), two multi-specialty clinics, and three senior living facilities in Shanghai and Beijing. The company also has a growing pipeline of other projects, including hospitals and senior living facilities.
Columbia China chose the city of Jiaxing for its new hospital because of the city’s strategic location in Zhejiang Province and its population of 4.5 million people, with strong demand for quality healthcare services. The hospital will be located within the Jiaxing Economic and Technological Development Zone, which has been positioned by the Jiaxing government as a platform for local advanced manufacturing, modern services and urbanization.
Columbia China broke ground on the new hospital today, just eight months after acquiring the land.
“The speed is unprecedented and unheard of in China for a foreign hospital investment,” said Bee Lan Tan, President & Group CEO of Columbia China. “This would not have been possible without the commitment and efficiency of the Jiaxing government. Columbia China remains dedicated to bringing more international talent and resources to Jiaxing, so that the needs of the local population can be well served.”
Columbia Jiaxing Hospital will be built in accordance to Joint Commission International (JCI) standards. Upon completion, it will have a construction floor area of 120,000 square meters, with 500 beds; 10 operating theatres; 6 Labor, Delivery, Recovery and Postpartum (LDRP) rooms; and advanced diagnostic equipment.
The hospital will provide holistic patient-centric care using state-of-the-art medical technology. Patients will be able to use their public and commercial medical insurance.
“Columbia China strives to deliver the highest level of healthcare quality and service by putting patients at the center of everything we do,” said Nate McLemore, Managing Director of Columbia Pacific Management. “We are excited to open a hospital in Jiaxing and are extremely committed to delivering world-class care across China with Columbia China hospitals and Cascade (Kaijian) senior living.”
For more information about Columbia China, go to the company’s website, Columbia-China.com.
About Columbia Pacific Management
Columbia Pacific Management (CPM), based in Seattle, oversees an international healthcare business that develops and operates hospitals, clinics and senior housing in Asia. With locations in China, India, Indonesia, Kenya, Malaysia and Vietnam, CPM’s operating companies provide healthcare and senior care services in markets making up more than half the world’s population. All of these countries have rapidly aging populations, rising middle- and upper-middle-class populations, an under-supply of quality healthcare and senior care facilities, and increasing rates of non-communicable diseases such as diabetes, cancer and cardiac diseases – creating an unprecedented demand for world-class healthcare services and senior housing.
The company’s affiliates include Columbia Asia, operating hospitals in India, Southeast Asia and Kenya; Columbia China, which is building a network of hospitals and clinics in China; Cascade Healthcare, a subsidiary of Columbia China that operates senior care facilities; and Remote Medical International, which provides medical services and supplies to challenging locations around the globe.