KOTA KINABALU, Malaysia, May 20, 2021 /PRNewswire/ -- European Wellness Biomedical Group has signed a memorandum of understanding (MOU) with Yantai Dongci ZhenAn Hospital Group to develop an exclusive multimillion dollar-project Regenerative Medicine Center in Shandong, China.
In a digital signing session on April 7th, 2021, the two organisations agreed on a joint venture that will see a total investment of USD 4.4 million for the building and launching of European Wellness Yantai Premier Center.
Their state-of-the-art medical center will operate using European Wellness's proprietary systems, protocols, and biological regenerative solutions including cell therapy products and services, and utilize Dongci's regional expertise, along with their fleet of highly-trained administrative, maintenance, and medical personnel.
The approximately 12,000 sq. ft. European Wellness Yantai Premier Center, which forms a division of the 6-storey licensed private hospital, will be one of the largest German-affiliated specialist centers in China's Shandong Province – which has surged in recent years as the country's third largest provincial economy with a GDP of USD 1.156 trillion in 2018.
European Wellness and Dongci's joint venture comes at a time where Biological Regenerative Medicine is rapidly emerging both globally and locally in China.
Government initiatives supporting advanced therapies, increased foreign investment in the Asian healthcare industry, and the growing number of patients suffering from chronic disease conditions or requiring organ transplants are driving growth in the APAC region – with China's regenerative medicine market in particular expected to grow at a compound annual growth rate of 25% from 2020 to 2025.
Directors Bernard Chau and Liu Dong Sheng represented Yantai Dongci ZhenAn Hospital Group during the April 7th MOU signing, while European Wellness was represented by its Group Chairman, Prof. Dr. Mike Chan. The virtual signing ceremony, which was held online on Tencent Meeting, was witnessed by Sheng Shijie, Director of China Yantai Zhifu Investment Bureau.
"The significance of this project is massive, not only in terms of socio-economic benefits including job opportunities in a market that is rapidly growing both globally and domestically, but also in terms of knowledge and technology transfer," said Bernard Chau.
His sentiments were shared by Prof. Dr. Mike Chan, who believed that the joint venture will be the next step in providing communities with access to high-quality health and wellness services.
"Now is the time to expand and enhance by bringing the technology to China."
"We will be bringing in decades of research and expertise on regenerative medicine from European-based health and wellness modalities right here to the local communities. That is perhaps more relevant now than ever before… because of Covid-19, there are more travel restrictions, and fewer people are able to go overseas for medical treatments of similar quality today," said Mike Chan.
Construction on the new Yantai Wellness Center is already underway, with the facility set for a targeted grand opening in September 2021.
European Wellness Biomedical Group
European Wellness is a holistic wellness and rejuvenation concept brand based on the knowledge and effectiveness of Swiss biological medicine and bio-molecular therapy, offering treatment for anti-aging, aesthetics, and whole-life disease management. Its premium accredited Wellness Centers are located all over the globe, including Switzerland, Germany, Greece, Thailand, Bangladesh, and Philippines. The group is also acclaimed for its Academy, offering education, training and empowerment to health and wellness practitioners worldwide.
Yantai Dongci ZhenAn Hospital Group
Established in Shandong Province, China in 2005, Dongci has thrived through its transition from a State-owned Corporation Staff Hospital to its current status as a Privately-owned General Hospital serving the public. Among its achievements:
