JV cares for Alzheimer’s

GREENLAND Hong Kong Holdings said in Shanghai yesterday it is tying up with Provectus Care, an Australian aged care group, and Shanghai International Medical Center to launch the first institution in Shanghai that provides professional care for Alzheimer’s patients.

Scheduled to open in July at SIMC with a capacity of 60 beds, the joint venture institution is 70 percent held by Hong Kong-listed Greenland Hong Kong, part of state-backed developer Greenland Group, 20 percent by Provectus Care and 10 percent by SIMC.

“Greenland Hong Kong is vigorously expanding its health care businesses which cover various sectors including medical treatment, rehabilitation and aged care,” said Chen Jun, chief executive officer of Greenland Hong Kong. “We feel very positive about the potential of the health care and aged care industry in China which is seeing a rapidly growing aging population mainly due to longer life expectancy and declining fertility rates.”

There were 230 million people aged over 60 years in China at the end of 2016, accounting for 6.7 percent of the country’s total population, according to official statistics released earlier.

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