JIAXING – Columbia China, a 50-50 joint venture between Seattle’s Columbia Pacific Management and Singapore investment company Temasek, started construction today on a 500-bed multi-specialty hospital in Zhejiang Province.
Columbia Jiaxing Hospital, which is set to open in 2019, will cost US$150 million (RMB1 billion) to construct and is Columbia China’s second greenfield hospital.
Columbia China currently operates Shanghai Kaiyuan Orthopedic Hospital (232 beds), two multi-specialty clinics, and three senior living facilities in Shanghai and Beijing. The company also has a growing pipeline of other projects, including hospitals and senior living facilities.
Jiaxing was chosen for the city’s strategic location in Zhejiang Province and its population of 4.5m with strong demand for quality healthcare services. The hospital will be located within the Jiaxing Economic and Technological Development Zone, which has been positioned by the Jiaxing government as a platform for local advanced manufacturing, modern services and urbanization.
Columbia China broke ground on the new hospital today just eight months after acquiring the land.
“The speed is unprecedented and unheard of in China for a foreign hospital investment,” said Bee Lan Tan, President & Group CEO of Columbia China. “This would not have been possible without the commitment and efficiency of the Jiaxing government. Columbia China remains dedicated to bringing more international talent and resources to Jiaxing, so that the needs of the local population can be well served.”
Columbia Jiaxing Hospital will be built in accordance to Joint Commission International (JCI) standards. Upon completion, it will have a construction floor area of 120,000 square meters, with 500 beds, 10 operating theatres, 6 Labor, Delivery, Recovery and Postpartum (LDRP) rooms, and advanced diagnostic equipment.
The hospital will provide holistic patient centric care using state-of-the-art medical technology. Patients will be able to use their public and commercial medical insurance.
“Columbia China strives to deliver the highest level of healthcare quality and service by putting patients at the center of everything we do,” said Nate McLemore, Managing Director of Columbia Pacific Management. “We are excited to open a hospital in Jiaxing and are extremely committed to delivering world-class care across China with Columbia China hospitals and Cascade (Kaijian) senior living.”