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European Wellness Biomedical Group has signed a memorandum of understanding with Yantai Dongci Hospital to build a multi-million dollar exclusive project Regenerative Medicine Center (Regenerative Medicine Center) in Shandong, China
.
At the online signing meeting held on April 7, 2021, the two institutions reached an agreement on a joint venture.
The total investment will be US$4.
4 million for the construction and launch of the European Wellness Yantai Premier Center
.
Their state-of-the-art medical center will use European Wellness’s proprietary systems, protocols and bio-regeneration solutions (including cell therapy products and services) to operate, and utilize Toci’s regional expertise, as well as their well-trained administration, maintenance and Medical staff
.
The European Wellness Yantai Premier Center occupies approximately 12,000 square feet, forming a department of this 6-story chartered private hospital, and will become one of the largest German affiliated expert centers in Shandong, China
.
As China's third-largest provincial economy, its GDP in 2018 was approximately US$1.
The formation of the joint venture between European Wellness and Toci coincides with the rapid rise of Biological Regenerative Medicine globally and locally
.
Government initiatives to support advanced therapies, the increase in foreign investment in the Asian healthcare industry, and the increasing number of patients with chronic diseases or in need of organ transplants are driving growth in the Asia-Pacific region-China’s regenerative medicine market is expected to reach 25% from 2020 to 2025 Compound annual growth rate
.
On April 7, hospital leaders Bernard Chau and Liu Dongsheng signed this memorandum of understanding on behalf of Yantai Dongci Hospital and European Wellness Chairman Dr.
Mike Chan
.
The online signing ceremony was held at the Tencent conference, and Sheng Shijie, director of the Zhifu District Investment Promotion Center, witnessed the signing of the agreement
Bernard Chau said: "This project is of great significance, not only in terms of social and economic benefits, including employment opportunities in a rapidly growing market at home and abroad, but also in terms of knowledge and technology transfer
.
"
Professor Mike Chan also agreed with his view that the joint venture will be the next step in providing high-quality health services to the community
.
"It's time to bring technology to China to expand and increase its influence
.
"
Mike Chan said: "We will bring decades of research and expertise in regenerative medicine from the European health model to the local community
.
Now this may be more important than ever.
The new Yantai Wellness Center is already under construction and is expected to open in September 2021
