On March 31, 2020, Genertec Universal Medical Group Company Limited (“Universal Medical”, HK.2666) signed agreements with China Railway State Assets Management Company Limited (中铁国资资产管理有限公司,“CR State Assets”) in relation to take-over of 7 medical institutions under CR State Assets, which marks the second asset injection to target joint ventures established in Beijing and Xi’an separately based on previous transactions with China Railway First Group Cp., Ltd.(中国中铁一局集团有限公司) completed in March 2019, bringing further expansion of hospital group business under Universal Medical.

The 7 target institutions contains actual capacity of 1525 beds, including CREGC Second Hospital (中铁二局集团第二医院), Center Hospital Affiliated to China Railway No.3 Engineering Group Co., Ltd. (中铁三局集团中心医院), Hangzhou Nursing Home Affiliated to China Railway No.5 Engineering Group Co., Ltd. (中铁五局集团杭州疗养院), Hospital Affiliated to China Railway No.5 Bureau No.2 Engineering Co., Ltd. (中铁五局集团第二工程有限责任公司医院), China Railway Shanqiao Group Hospital (中铁山桥集团医院), China Railway Shanghai Bureau Wuhu Hospital (中铁上海局芜湖医院) and Kangle Nursing Home (中铁康乐医疗养老院).The aforesaid medical institutions are located in prefecture-level cities or provincial capitals across North China, Middle China, East China and Southeast Coastal Areas, with millions population and sound social economic development, which will better complete our existing hospital map. 

In the future, Universal Medical will provide customized upgrade solutions to member hospitals in terms of disciplines, medical IT system, operation mechanisms, etc. Better medical services would be offered to local residents when the full medical industry chain businesses come into development including commercial medical insurance and elderly care with medical services.