Private health firms set sights on overseas services

China's private health companies are seeking more opportunities to introduce high-quality medical services from overseas to the domestic market.

A flagship healthcare center operated by Ikang Guobin Healthcare Group opened at the LG Twin Towers in Beijing yesterday. It will target customers with higher incomes, with better private medical services.

The center has invited Tom Fox, vice-president of Harvard Medical School, to be its director. Physicians from the school will visit the center for regular treatment and consultation sessions.

Zhang Ligang, chief executive officer of Ikang Guobin Healthcare Group, said,“It will be easier for Chinese customers to travel to the US for treatment at Harvard Medical School with help from us.”

He said international medical consultant services, cancer screening, dental care and a Sino-US cardio center will be the major services at the new center. In the next three to five years, the group will build more high-end medical service centers in other cities.

Domestic and foreign funding has been pouring into China’s private healthcare firms to seek “enormous opportunities”, Caixin Magazine reported in June.

China’s three biggest private healthcare service providers —Ikang Guobin Healthcare Group, Ciming Health Checkup Management Group and Meinian Onehealth Healthcare (Group) Co — have attracted significant amounts of investment in recent years.

Ikang Guobin raised $100 million in April from investment bank Goldman Sachs and the Government of Singapore Investment Corp, Singapore's sovereign wealth fund, Caixin reported.