China: Swire Pacific takes minority stake in Shenzhen New Frontier United Family Hospital

Hong Kong and London-based conglomerate Swire Pacific has made an associate investment in Shenzhen New Frontier United Family Hospital, a new premium private hospital being developed in Shenzhen.

“Healthcare is a sector where quality, commitment to service and reputation are all very important. All of these play to our core strengths. It usually takes from 5 to 8 years to ramp up a hospital – this aligns well with our long-term perspective in business. We are also very comfortable with highly regulated industries, as we operate in several already. Finally, healthcare is an asset-based business that involves acquiring sites and building them out,” explained Guy Bradley, chief executive of Swire Properties, who also chairs Swire Pacific’s healthcare advisory board.

The company added that Swire Pacific’s minority investment was made as part of the company’s strategy to identify “new and diversified investment opportunities” that will increase the company’s exposure in businesses that benefit from the growth in consumer spending on the Chinese mainland.

The investment will also strengthen the group’s business portfolio in the Greater Bay Area and comes on the back of an investment in April last year in Shanghai-based healthcare service provider Columbia China Healthcare.

New Frontier Health owns and operates premium private healthcare provider United Family Healthcare (UFH). Shenzhen New Frontier United Family Hospital will be the latest addition to the UFH network of hospitals in the Chinese mainland.

Located in the heart of Futian district, and adjacent to the Shawei metro station, the new hospital will also be the largest hospital in the UFH’s network with 350 inpatient beds.

As a comprehensive multi-speciality hospital, the group said that the hospital’s key specialities will include obstetrics and gynaecology, family medicine, oncology and orthopaedics.

It is expected to be operational in the second half of 2021.