Source：163 News

On 18 August 2018, Heilongjiang State Farms-Beidahuang Group (“Beidahuang Group”) signed a framework agreement with Genertec Universal Medical Group Company Limited (“Universal Medical”, HK.2666) on reform and restructuring of its affiliated hospitals. Mr. Wang Shoucong, Party Secretary, Director General and Chairman of the board of Beidahuang Group, Mr. Yang Baolong, member of the Party Committee and deputy general manager of Beidahuang Group, and Mr. Guo Weiping, CEO of Universal Medical, attended the signing ceremony.

Yang and Guo signed the agreement on behalf of two sides

Responding to the call of Guidance on Deepening Reform of SOE Educational and Medical Institutions (File No.134) promulgated by SASAC, the signing will play an important role in providing medical services for Beidahuang staff as well as local residents and promoting industry transformation and upgrading of the Group.

Beidahuang Group is headquartered in Northeast China, south to Lesser Khingan Mountains and covering Songnen Plain and Sanjiang Plain. Established in 1947, the Group owns 9 authorities, 113 farms and pastures, and 983 SOEs. Its medical institutions of all hospital level, possess 10,000 beds and serve the group staff as well as local residents as a significant medical system.

Meeting the requirements of Beidahuang Group reform, the cooperation between the two sides contains a preliminary plan of selected hospitals to establish a regional medical alliance covering hundreds of hospitals. Universal Medical, as a core operational entity under Genertec, a central SOE, to conduct medical and health-related business, will leverage on its diversified domestic and overseas quality medical resources and financial strengths, to enhance the hospitals’ comprehensive capability. Based on the current conditions and requirements of these group-affiliated hospitals, the company will put staff stability first and input capital, technology, facilities, clinical department upgrading, staff training, managerial expertise and IT systems to improve these hospitals. In the meanwhile, for a better regional alliance and a coordinated and sophisticated hierarchical system for resources sharing, the Company will make a tailored development plan for every hospital within the system.

In the future, the medical system will better serve Beidahuang staff during their long march for agricultural modernization. The system will also contribute to regional medical industry to create new economic value and social value.