Healthcare sector in China looks to Taiwan's expertise

Want China Times, Tu Hue-rong and Staff Reporter 2014-06-17

A model of a human heart displayed in a hospital waiting room in Taipei.
(Photo/Wang Chin-ho)

China is attempting to attract cooperation with Taiwan's healthcare sector by plowing funds into opportunities that involve exchanges in medical techniques and equipment, reports our Chinese-language sister paper China Times.

China's president, Xi Jinping, recently announced that the country will ramp up healthcare spending and will allow private capital investment in the domestic medical industry. The announcement will likely benefit Taiwanese firms looking to expand overseas.

Taiwan's medical industry is recognized as one of the best in the region and the country's expertise could boost China's burgeoning sector, with Chinese hospitals already actively seeking cooperation with their Taiwanese counterparts.

Medical management operators in Taiwan previously signed a eight-year cooperation deal with China. The cooperation was eligible for a two-year extension in case both parties were happy. However, Chinese firms now hope to deepen relations with joint ventures.

China is attempting to woe a number of companies, most notably CHC Healthcare Group, an investment holding company, which distributes medical equipment in Taiwan and overseas. Meanwhile, Taiwanese hospitals, such as the Kaohsiung Medical University, Taipei Medical University and Changhua Christian Hospital are also sought to establish a proper system for their mainland counterparts.

Lee Shih-jen, a spokesperson for CID Group, a Taiwanese venture fund company, said that Taiwanese firms could command a large share of China's medical management field in the future.