Apollo, Chinese entity to jointly setup hospital in Hainan

Apollo Hospitals has inked a pact with China's Hainan Ecological Smart City Group (HESCG) to jointly develop a hospital in the Hainan province where a smart city is being developed.

As part of the pact inked between the two parties, HESCG will provide land, all the investment for the construction, and equipment besides all operative expenses, while Apollo Hospitals would bring in technical consulting, planning and commissioning of the hospital.

Besides, the Chennai-based healthcare major will provide services for the operations and management of the hospital post completion of the project, Apollo Hospitals said in a regulatory filing.

The smart city on the island of Hainan will have residential infrastructure and the proposed hospital would cater to not only the people of the province but also attract medical tourists from mainland China and other nations, it added.

The pact is also aimed at expanding to other parts of China as well as in India with suitable model of collaboration, the healthcare company said.

HESCG is a Chinese industrial park development and operations company, based out of Hainan province.

Apollo Hospitals shares today ended 0.20 per cent higher at 1,299.95 apiece on BSE.