German healthcare company the Artemon Group has signed a strategic agreement with the Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd. to establish the first wholly foreign-owned hospital in mainland China, according to official Chinese news reports.
Previously, only healthcare organizations from China’s special administrative region of Hong Kong and Macau, as well as Taiwan, can establish wholly foreign-owned hospitals in cities in Mainland China.
The planned hospital will have seven medical centers and four inpatient care centers. It is expected to begin construction within this year, and will be operational in two years with initial hospital beds of 100.
According to officials from Shanghai’s Free Trade Zone, a number of foreign hospitals are currently in negotiation to establish their presence there, and there will be more foreign hospitals entering Mainland China.
The Artemon Group operates eight clinics in Germany and five nursing homes.