On 22 July 2014, a framework agreement relating to the establishment of the first wholly foreign invested hospital in China (Shanghai) Pilot Free Trade Zone (“Shanghai FTZ”) was entered into between German-based Artemed Group, HK-based Silver Mountain Capital, Shanghai Waigaoqiao Free Trade Zone 3U-Development Co., Ltd. (“3U-Development”) and Shanghai Waigaoqiao Medical Centre1 . It is reported that Artemed Group and Silver Mountain Capital will invest in and establish a comprehensive wholly foreign owned hospital with approximately 300 beds at the premises in Shanghai FTZ provided by 3U-Development (“Artemed Hospital”). It is further reported that approximately 10 foreign doctors as well as a number of therapists will work in this new hospital. Numerous imported medical devices will also be installed in the new hospital. The new hospital will also share medical resources and patients with the Shanghai Waigaoqiao Medical Centre, which is located nearby.
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