Photo: Raffles Medical Group and China Life Healthcare
Raffles Medical Group and China Life Healthcare have signed a memorandum of understanding (MOU) on June 1.
China Life Healthcare is a first-class healthcare investment platform and service provider of China. It is a subsidiary of China Life Insurance (Group).
The latter is one of the pioneers of the insurance industry in China and the largest state-owned insurance institution.
Through the MOU, both parties will be exploring collaborations and initiatives across a variety of areas including collaborations in provision of medical services, healthcare management, training and development as well as healthcare financing through insurance.
The partnership will focus on supporting ageing populations.
In the same statement, Raffles Medical Group says it expects to open another tertiary hospital in 2021 in Shanghai named the Raffles Hospital Shanghai.
“We are proud to announce our strategic partnership with China Life Healthcare Investment Company, a subsidiary of one of the leading insurance groups in the world. This strategic partnership with China Life Healthcare Investment Company represents an evolution in our journey in China where we not only want to bring the Raffles brand of quality and compassionate healthcare, but healthcare financing solutions as well,” says Loo Choon Yong, executive chairman of Raffles Medical Group.
As a healthcare company and a home-grown Singapore brand, we are proud to share our unique Raffles’ experience, expertise and infrastructure to make a significant difference and impact many lives in China, including some of the 300 million policy holders of the China Life Insurance Group,” Loo adds.
Shares in Raffles Medical closed 1 cent higher or 0.9% up at $1.15 on June 1.
