Corporate Updates
UM and Anhui Luzhou Hospital Signed A Cooperation Agreement
On 29 December 2021, Genertec Universal Medical entered into a capital increase agreement with Anhui Luzhou Hospital Co., Ltd. (安徽庐州医院有限公司). The parties agreed that Genertec Universal Medical will increase the capital of Anhui Luzhou Hospital by injection of RMB200 million in cash, among which Genertec Universal Medical will hold 83.33% and become the controlling shareholder of Anhui Luzhou Hospital.
UM and Anhui Luzhou Hospital signed a cooperation agreement
Anhui Luzhou Hospital is a for-profit Level 3 hospital in Hefei, Anhui Province, with an actual capacity of 600 beds in planning. In the future, the hospital will focus on core disciplines such as oncology, nephrology, obstetrics & gynecology, orthopedics and rehabilitation, and establish an international precision tumor diagnosis and treatment center and other specialized institutions, to be built into a flagship hospital with a demonstrative effect in the next five years.
The capital increase is the first time for Genertec Universal Medical to acquire a for-profit hospital, which serves as a benchmark for future acquisition. As a state-owned medical group, Genertec Universal Medical has more than 50 medical institutions in 14 provinces and cities across the country. As a sub-center of the Yangtze River Delta, Hefei City in Anhui Province is one of the key layout areas of the Company’s hospital group business. This cooperation agreement has laid a solid foundation for Genertec Universal Medical to build a chain cluster of specialties.
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