INVESTMENT

German healthcare group to set up hospital in free trade zone

German healthcare and medical product provider Artemed Group will establish a hospital in the China (Shanghai) Pilot Free Trade Zone.

Artemed signed a framework agreement on Tuesday with Silver Mountain Investment Co, Shanghai Waigaoqiao FTZ 3U-Development Co and Shanghai Waigaoqiao FTZ Healthcare Center.

The hospital will be the first wholly foreign funded medical institution to set up in the FTZ. It will cover 10,300 square meters and include several medical centers including a medical image center, an independent diagnostic center, medical training center, research and development center, demonstration center, comprehensive outpatient center and inpatient center in the fields of cardiovascular disease,muscle and bone diseases, celiac diseases and lung diseases.

China to relax curbs on foreign investment in hospitals

China will ease curbs on foreign investment in joint-venture hospitals, the government said on Wednesday, as it deepens a sweeping overhaul of its healthcare system aimed at cutting costs and sprucing up overloaded public services.

China is an appealing market for pharmaceutical firms and medical-equipment makers, with spending in the industry expected to nearly triple to $1 trillion by 2020 from $357 billion in 2011, according to consulting firm McKinsey.