IRVINE, CALIFORNIA, THE UNITED STATES, May 21, 2018 /EINPresswire.com/ — China’s expanding, and aging, middle-class presents great opportunities for the healthcare industry and its development through private investment and cooperation. China’s Tahoe Group is moving quickly to bring in foreign expertise, ink cooperation deals with major research and teaching colleges, as well as build a portfolio of modern hospitals.
A new healthcare strategy for an aging population
While the world’s manufacturer shows no slowing in its ascent up the value chain,one service industry stands out as highly profitable, international business in need of development and innovation: healthcare.
China’s incredible economic expansion over the decades since opening and reform has been accompanied by a much documented one-child policy. Working families with a single, young dependent gave a labor-heavy boost to economic growth and brought about the rise of the nation.But an unwanted side effect was a rapidly aging society. China’s “gray tide” is bringing ever-more sophisticated healthcare demands and thus great opportunities to the domestic healthcare industry and innovations in industry partnerships and logistics.
Beijing’s current five-year economic plan, ratified in 2016, included a high-priority goal of achieving a “Healthy China” a priority. Nothing less than a world-class healthcare sector fueled by inbound private investment international cooperation is the core objective.
This ambitious national policy has attracted a big player in the form of Tahoe Group Co Ltd, moving rapidly into the healthcare sectorand investing in expansion and upgrades to China’s private health sector: hospitals, healthcare centers and medical technology.
The purchase of US-based Alliance HealthCare Services, for example, was a key strategic move for the group. It granted them access to 30 years of experience in high-quality clinical care, including services in radiology and oncology. Two healthcare centers were opened on April 22 in Fuzhou, capital of southern China’s Fujian Province, including one offering advanced facilities and therapies from Alliance, with a focus on private cancer patients. The Massachusetts General Hospital physical examination, ranking first in the US, is used at one location, the Tahoe HealthCare Center. Tumor screening will be a flagship service here, while medical experts can provide remote diagnoses and consultations.
As part of a strategy to build a portfolio of large-scale general hospitals, Tahoe purchased Beijing Yuhe Hospital in November 2016 and cooperated with Weill Cornell Medicine (the biomedical research unit and medical school of Cornell University) and Partners HealthCare International (the leading integrated academic health care system in the United States) to build and develop Yangpu International Hospital in Shanghai for servicing the local market and providing international medical facilities to expatriates.
For training the physicians and nurses of tomorrow, Tahoe Group is currently cooperating with Tsinghua Medical College (Beijing), Tongji Medical College (Wuhan), Weill Cornell Medical College (New York) and the University of Pittsburgh Medical Center.
Tahoe Group’s Chairman Huang Qisen believes the acquisition of Alliance HealthCare Services and cooperation with top international hospitals and organizations will provide cutting-edge medical technology, techniques and services to the group’s general hospitals, special hospitals and healthcare centers. China’s private sector healthcare can thus benefit the public and promote the development of the industry.
China currently lacks hospital beds for rising rates of certain diseases, such as cancer, and there is a significant gap in the market that private healthcare and international cooperation can fulfill. Currently, cancer treatment mainly takes place in public hospitals, which provide 91% of beds for patients.A spokesperson for Tahoe Group said that cancer cases in China had increased year on year, reachingsome 25% of the world’s total, due to environmental factors and life pressure.
Private care provides healthy returns on investment
As the second-largest healthcare market in the world, China is proving attractive to foreign investors. A recent report from McKinsey & Co. estimates China's healthcare market will reach USD 1 trillion by 2020.
Outside of the mixed quality of services at China’s state-run hospitals,non-governmental investment is funding private healthcare that aims to be world class. The operational framework of Tahoe Group’s medical services is a detailed insight into the future of China’s healthcare industry.
The growth of the Chinese healthcare market is expected to be driven mainly by the country’s ageing population, rise in incidences of lifestyle-related diseases such as diabetes and cancer, and major steps taken by the government to improve the local healthcare infrastructure. Recent regulatory changes by the Chinese government are expected to speed up the approvals of medicines and medical devices, thus easing the process of introducing new treatments to the market.
China’s healthcare woes in numbers
China’s population of over 60s by 2020.
New diagnoses of invasive cancer in 2015 in China.
Cases of lung cancer in Chinese men over 75 years old.
USD 1 trillion
The estimated value of China’s healthcare sector by 2020.
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Tahoe Group is transforming China’s healthcare into a global, high-tech industry
Source: EIN Presswire