June 06, 2017

German company to run JV hospital in FTZ

An artist's rendition of the Artemed Shanghai Hospital in the free trade zone.

The Artemed Shanghai Hospital will open in the FTZ in the third quarter of 2018 as a joint venture between the German Artemed Group and Shanghai Free Trade Zone Group Co Ltd, the FTZ officials said recently.

Artemed Group and the FTZ signed a framework agreement on building the hospital in July 2014. The hospital will provide medical services with international standards and at affordable prices even if it can't make a profit in the first seven years. Patients can use their medical insurances to cover hospital costs.

The hospital will start with the orthopedics department which has 200 beds, an emergency room, an independent imaging center with PET-MRI scanners, and a third-party laboratory.

It will open a 250-bed cardiovascular medical center before the end of 2020 in second-phase development and use the German company's unique diagnosis-based pricing system to relieve the burden of low-income patients.

Foreigners working in Shanghai Free Trade Zone can use their commercial insurances to cover a certain portion of hospital costs not covered by medical insurances, the officials said.

The FTZ will simplify import procedures for foreign-made diagnosis equipment and cancer drugs so that foreign patients can enjoy the same treatment at the joint venture hospital as in their own countries, the officials added.

Foreign doctors will be hired by the hospital. Anyone receiving red packets of cash from patients will be punished for breaking the law, the officials said.