Hainan Province, Hengda Health and Korean Yuanchen Signs Strategic Cooperation Agreement

BOAO, China, March 29, 2015 /PRNewswire/ — In the evening on March 29, Hong Kong listed company New Media (HK.708) (to be changed into Hengda Health Industry Co., Ltd.) announced that it has signed a strategic investment cooperation framework agreement with the Management Committee of the pioneer district of the international medical tourism in Lecheng, Boao, Hainan Province; and Korean Yuanchen Medical Cosmetology Group on March 28 to establish an international medical cosmetology and anti-aging center at the above mentioned pioneer district. An original report from Sina Leju follows.

Three parties has completed the signing ceremony at the Boao Health Forum on March 28, including Lu Junhua, vice-governor of Hainan Province; Tan Zhaohui, executive vice president of Hengda Group and Board chairman of New Media (Hengda Health); and Piao Yuanchen, president of Korean Yuanchen Medical Cosmetology Group.

The "Internet + Health and medical treatment" is now perceived as the most attractive direction and the hottest topic at this Forum. The leading enterprises mainly include Ali Health, Hengda Health and so on. Ali Health, formed by Ali Group through the purchasing of CITIC 21 Century, has a current total market value of HKD 55.4 billion. Hengda Health is formed by Hengda Group through an acquisition of New Media that has just completed. The company has also completed the change in board of directors and is currently with a current total market value of HKD 5.8 billion. These two companies are the industrial leaders, both of which are listed in Hong Kong.

According to the agreement, New Media (Hengda Health) will cooperate with Korean Yuanchen to invest in the construction of the hospital with integration of medial plastic surgery, beauty and anti-aging health, creating a high-end international Beauty Surgery Hospital with advanced technology, professional teams and modern management and plans to use the information modes such as highly efficient and accurate big data, mobile internet, etc. to provide a one-stop service for health and medical tourists.

Korean Yuanchen is the earliest and largest medial beauty group in South Korea. Lexing District in Boao is the first pioneer district of the international medial tourism approved by the State Council and has won 9 national preferential policies such as accelerating the registration and approval process of medical apparatus and instruments, drugs import, etc. According to the authoritative report, it is estimated that the total scale of the health service industry will reach RMB 8,000 billion in China in 2020. Thus, the industrial prospect is bright.