January's top stories: Wanda’s $2.3bn investment, £1bn UK fund for mental health
China's Wanda to invest $2.3bn in hospital developments and UK’s £1bn investment to improve mental health services across the country. Hospitalmanagement.net wraps up key headlines from January.
Chinese conglomerate Wanda Group announced it plans to invest CNY15bn ($2.3bn) in hospital developments around the country, in a bid to meet growing demand for high-end healthcare services.
Under the initiative, the Chinese firm partnered with UK-based International Hospitals Group (IHG), which will be responsible for managing the new hospitals under its own brand.
The investment will be used to build three hospitals in Shanghai, Chengdu and Qingdao. In China, they will assume the name IHG Wanda International Hospital.
UK Prime Minister David Cameron announced the government is investing £1bn on improving mental health services across the country.
Out of the total investment, more than £400m is being set aside to help secure 24-hour treatment for mental health patients in the community, as a safe and effective alternative to a hospital.
NHS England taskforce on Mental Health independent chair Paul Farmer said: "This is a significant moment for mental health and we are pleased to see the prime minister giving it the attention it deserves.
"Mental health is hugely important in any discussion about improving life chances and mental health problems can affect anyone, from mums-to-be preparing for their first child to older people at risk of isolation."
Royal Philips secured a $90m contract from US-based Marin General Hospital (MGH) to provide advanced medical technologies to treat patients across Marin county.
Under a 15-year contract, Philips will offer a range of advanced medical technologies, including imaging systems, patient monitoring, telehealth and clinical informatics solutions to the hospital.
The company will also offer clinical education, consulting and design services to the hospital, which is based on an enterprise managed services model.
The Abraaj Group entered an agreement to acquire, through one of its funds, a majority stake in multi-specialty healthcare provider Quality CARE India (CARE) from global private equity firm Advent International.
Headquartered in the Indian city of Hyderabad, CARE is the fifth largest healthcare provider in the country and has 2,600 beds across 16 hospitals in nine cities.
The management team of both Abraaj and CARE will focus on expanding the hospital's integrated healthcare delivery system, especially in certain regions of India.
UAE-based integrated healthcare provider VPS Healthcare entered a strategic alliance with The Children's Hospital of Philadelphia (CHOP) in the US to bring new paediatric clinical and research excellence to patients and physicians in the region.
The new alliance is the first of several joint initiatives originating from the MOU and will offer families close to home access to world-class paediatric care.
It will also ensure that VPS paediatric patients who need more specialised treatment will have seamless access to CHOP's main hospital in Philadelphia.
Malaysia-based healthcare firm IHH Healthcare Berhad, through its indirect wholly owned subsidiary, Parkway Healthcare Indo-China, started construction of a new 250-bed hospital in Yangon, Myanmar.
Built with an investment of $70m, the new hospital (Parkway Yangon) is Parkway Pantai's first hospital in the country.
A joint venture consortium called Andaman Alliance Healthcare (AAHL) will be responsible for developing and operating the project.
US-based Pullman Regional Hospital acquired new technology, Christie VeinViewer Vision2, as part of its focus on children's health.
The technology is expected to make venipuncture easier and increase first stick success by up to 100%.
The technology will be helpful when drawing blood or inserting an IV on a child, which can be difficult for various reasons, including smaller veins, subcutaneous fat and greater elasticity of skin.
Sentry Data Systems, a US-based technology solutions provider for healthcare organisations, completed the acquisition of Agilum Healthcare Intelligence.
Agilum provides enterprise business intelligence (BI) solutions that help health systems improve operating performance through increased transparency and access to actionable financial information.
The acquisition is part of Sentry's strategic plan to expand financial analytics via its platform, which currently provides decision support to more than 7,000 hospitals, clinics, integrated delivery networks (IDNs) and pharmacies.