BOSTON: Minnesota-based hospital group Mayo Clinic and Asian-focused investment firm Hillhouse Capital have agreed a joint venture in Beijing.
The new venture takes advantage of recent policy changes by Chinese regulators to encourage private investment in healthcare.
The route to China is becoming a well-worn path for US hospital operators. Hospital Corporation of America opened a 500-bed medical centre in Zhejiang province last year, while in Q4, Massachusetts General Hospital signed a framework agreement with Guangdong Provincial Hospital of Traditional Chinese Medicine and Kanghua Healthcare Investments to set up MGH Hospital China.
Robert Luo, currently senior investment officer at Mayo Clinic and a graduate of Beijing Medical University, will act as chief executive officer. Terms of the agreement have not been disclosed…