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Sinophi Healthcare and Hitachi Consulting Sign MOU on China Hospital Project Opportunities

March 2016

Sinophi Healthcare and Hitachi Consulting UK Ltd signed an MOU on March 22, 2016 to work together in healthcare delivery and improvement in Sinophi’s hospitals and future projects in China. Initial focus will be on Hitachi’s role as the key Technology partner for Sinophi’s new-build hospital projects and existing hospitals in Huai’an city, Jiangsu province.

Sinophi and Hitachi will work together as part of Sinophi’s investments and partnerships with China’s public hospitals, contributing to improved physical plant, better working buildings and patients benefitting from the application of new healthcare technologies.  It should be noted that due to pre-existing arrangements, the MOU specifically excludes Sinophi from working with Hitachi’s proton therapy equipment business.

About Hitachi Consulting  (www.hitachiconsulting.com)

Hitachi Consulting (HCC) is part of the Hitachi Group which had US$81.3 billion in revenues in 2014, 325,000 employees and was number 78 in the 2014 Fortune Global 500 list. Hitachi is a global leader in healthcare. HCC enables programs accessing Hitachi’s expertise and technology in Social Innovation; combining mechanical and electrical plant and installation, equipment and informatics all leveraging the Internet of Things.

About Sinophi Healthcare  (www.sinophi.com)

Sinophi Healthcare is a UK company investing in and managing hospitals in China, focused on public general and specialty hospitals.  Sinophi works in partnership with hospitals in China’s rapidly growing urban areas to deliver improvements in the delivery of healthcare. Sinophi brings to hospitals in China international hospital expertise, links with hospitals in the UK’s National Health Service system and partnerships with leading UK and international healthcare service and product partners

HuaiYin Hospital Serves Record Number of Patients in 2015

February, 2016

HuaiYin Hospital in Huai’an City, Jiangsu province (next to Shanghai) provided treatment for a total of 515,674 out-patients in 2015 (up from 507,363 in 2014), an average of more than 1,400 patients served daily.  In-patient numbers also increased to 47,470 (up from 46,323 in 2014).

HuaiYin Hospital Main In-Patient Building

Sinophi Healthcare invested in HuaiYin Hospital in 2014.  It is a Class AA public hospital with 1,000 beds, located in the central HuaiYin District of Huai’an City with approximately one million population.  As the second largest hospital in Huai’an City, the hospital serves the people of HuaiYin District and attracts patients from across the other urban and rural areas of Huai’an City and its 5.5 million inhabitants.

HuaiYin Hospital Out-Patient Wing

Sinophi Healthcare meets with China’s President Xi Jinping and UK Prime Minister David Cameron

London, October 21, 2015

During the State Visit to the UK, Sinophi Healthcare Chairman Simon MacKinnon and Chief Operating Officer Gong Yongqiang met with China’s President Xi and Prime Minister Cameron.

President Xi Jinping meeting with Sinophi Chairman Simon MacKinnon and Sinophi COO Gong Yongqiang

Commenting, Gong Yongqiang, COO of Sinophi Healthcare Ltd, said: “It was a great honour for Sinophi to meet the national leaders and to have their support for our £800 million of hospital investments in China focused on oncology and treating cancer.  The Sinophi Proton Centre projects with top AAA hospitals in Beijing, Changchun, Fuzhou, Huai’an, Luoyang and Nanjing will make proton therapy more affordable and widely available to cancer patients. With our Chinese hospital partners we are bringing together the best of Chinese oncology and radiotherapy expertise with the next generation of proton therapy equipment from the UK to benefit all patients”

State Leaders President Xi Jinping and Prime Minister David Cameron 

Seven China hospital deals worth £800 million focused on proton therapy to treat cancer

London, October 21, 2015

Sinophi Healthcare, the China hospital investment and management company, announces today that during the State Visit to the UK by China’s President Xi Jinping, the company has signed seven hospital deals in China worth £800 million.  These are focused on proton therapy to treat cancer.   The seven hospitals include one oncology hospital with a proton centre and one maternity hospital in the city of Huai’an, as well as five Sinophi Proton Centres in Beijing, Changchun, Fuzhou, Luoyang and Nanjing with a combined total investment in building, infrastructure, operation and costs of £800 million.  

Following meeting with China’s President Xi Jinping and UK Prime Minister David Cameron, a signing ceremony was held in London witnessed by the UK Minister of State for Life Sciences Mr George Freeman MP.   Sinophi Healthcare’s Dr Hanif Kanji, Chief Executive, and Professor Zhao GuoQing, President of the China-Japan Union Hospital of Jilin University signed a deal to build a Sinophi Proton Centre at the hospital.  It was also announced that a purchase order was signed with Advanced Oncotherapy plc for a LIGHT proton therapy machine for the facility.  The China-Japan Union Hospital is located in Changchun, Jilin Province and is one of the largest hospitals in NE China with 3,328 beds.

Professor Zhao GuoQing, President of the China-Japan Union Hospital of Jilin University, signing the agreement with Sinophi CEO Dr Hanif Kanji with  UK Minister of State for Life Sciences Mr George Freeman MP looking on

At the signing ceremony Sinophi announced Framework Agreements to build four other Sinophi Proton Centres. These have been signed with Beijing Shijitan Hospital affiliated with Capital Medical University in Beijing; Nanjing Drum Tower Hospital affiliated with Nanjing University Medical School in Nanjing, Jiangsu Province; Luoyang Central Hospital affiliated to Zhengzhou University, in Luoyang, Henan Province and Fuzhou City Health Bureau in Fuzhou, Fujian Province.

These Sinophi Proton Centres in China bring together the best of Chinese oncology treatment and expertise with the advanced proton therapy technology of Advanced Oncotherapy plc of the UK.

China currently has one proton centre in Shanghai.  The combined population of the six Chinese cities where the Sinophi Proton Centres will be located is over 60 million people, with patients also expected to come from neighbouring cities and provinces (Jiangsu, Henan, Hebei, Fujian and Jilin provinces) with another 250 million people.

The two announced Sinophi Healthcare hospital deals in the city of Huai’an are for an oncology hospital with a proton centre, and for a maternity hospital.  These will be built in partnership with the Huai’an First People’s Hospital (3,000 beds) and with Huai Yin Hospital (1,000 beds).  Sinophi China Hospital Holdings Limited, a company invested by Sinophi Healthcare, Morgan Stanley Private Equity Asia, Sihuan Pharmaceutical and Euromax has already invested in Huai Yin Hospital.

Commenting on the signings, Dr Hanif Kanji, CEO of Sinophi Healthcare Ltd said: “The UK and China have many shared challenges dealing with cancer. Our Sinophi Proton Centres in six of China’s leading cities will expand to more Chinese cities in future.  We support the objectives of the Chinese Government’s healthcare reform programme by making proton treatment widely available at reduced cost, saving lives and improving the quality of life of cancer patients.  The next generation proton therapy technology of Advanced Oncotherapy plc, developed at their ADAM subsidiary (a spin-off from CERN in Geneva), will enable many more people to benefit in their treatment from the greater accuracy and fewer side effects of proton therapy compared to X-ray radiotherapy.”

Commenting, Sanjeev Pandya, CEO of Advanced Oncotherapy, said: “I am delighted to have signed our second commercial purchase order for our LIGHT system. This, and the further Framework Agreements being signed today, are a testament to the successful partnership between Sinophi’s strong healthcare network in China and our ground-breaking proton therapy technology. The advantages of our technology over existing products is generating strong interest across China. With over 20% of the world’s newly diagnosed cancer cases coming from China this market represents a huge opportunity for us.”

About Sinophi Healthcare

Sinophi Healthcare is a UK company which invests in and manages hospitals in China, focused on public general hospitals and selected specialty and super specialty hospitals. Sinophi works in partnership with hospitals in China’s rapidly growing urban areas to deliver improvements in the delivery of healthcare. Sinophi brings to hospitals in China international hospital expertise and technology, building links with hospitals in the UK’s National Health Service system and partnerships with leading UK and international healthcare service and product partners.

Sinophi Healthcare signs an MOU with Vernacare of the UK, meets with BIS Secretary of State Mr Sajid Javid MP

September 23^rd 2015

Sinophi Healthcare and Bolton-based Vernacare signed an MOU to deliver £10 million in business to Vernacare over the next 5 years in Sinophi’s hospitals in China.

Sinophi is looking to reduce infections in its hospitals by using Vernacare’s hygienic single-use system for patient toileting and washing.  Vernacare’s system and products are used in 96% of the UK’s NHS Trusts, reducing risks of cross-infection, freeing up nursing time, reducing damage to the environment and producing cost savings.

Lord O’Neill of Gatley, Commercial Secretary to the Treasury, witnessed the signing in Shanghai together with Seif Usher, Assistant Director, UKTI China Life Sciences, Health and Social Care.  At the signing Lord O’Neill noted Sinophi’s work with leading UK suppliers of healthcare products and services and the many opportunities for Vernacare and other UK healthcare companies to grow their exports and their businesses in China. He also highlighted the growing UK-China cooperation in addressing the major global challenge of reducing AMR (antimicrobial resistance).

The signing took place during the visit to China by Chancellor Osborne of the UK with a large delegation of Ministers, business and cultural leaders.

Sinophi Chairman Simon MacKinnon signs with Emma Sheldon, Vernacare Marketing Director,

with Lord O’Neill of Gatley and Seif Usher.

Following the signing, Sinophi provided the Secretary of State for Business Innovation and Skills, Mr Sajid Javid MP, with an update on Sinophi’s hospital investment plans in China.  These include building Proton Centres using next generation proton therapy treatment machines from the UK’s Advanced Oncotherapy plc to give many more patients in China access to the benefits of proton therapy for cancer treatment.

Secretary of State for Business Innovation and Skills, Mr Sajid Javid MP, with Simon MacKinnon

Sinophi Signs Agreement for Proton Centre with China-Japan Union Hospital of Jilin University

On July 27th 2015 in Changchun, Jilin province, China, Sinophi Healthcare signed an agreement with China-Japan Union Hospital of Jilin University (CJUHJU) for a Proton Center at CJUHJU in Changchun. The Proton Center will include a proton therapy machine from Advanced Oncotherapy plc of the UK, using world-leading advanced proton technology developed at CERN in Switzerland. Changchun Vice Mayor Madame Zhang Jing Ying, Jilin University President Mr Li Yuan Yuan and China Development Bank Jilin Province Deputy General Manager Mr Zhang Zhao Yi attended the signing ceremony together with Mr Brian Gallagher, Director, UKTI China representing the UK Government. The agreement was signed by Professor Zhao Guo Qing, President of CJUHJU and Dr Hanif Kanji, CEO of Sinophi Healthcare.

Commenting on the agreement, Mr Li Yuan Yuan, President of Jilin University, said: “I believe Sinophi Healthcare and the China-Japan Union Hospital of Jilin University will be a powerful combination, with the construction of a proton therapy center a mutually beneficial opportunity which will also create other opportunities and platforms. Jilin University is delighted to support this advanced scientific and technological project to bring to Changchun, Jilin and China the latest proton treatment to relieve the pain of cancer patients.

Commenting on the agreement, Professor Zhao Guo Qing, President of China-Japan Union Hospital of Jilin University, said: “Our hospital’s cooperation with Sinophi Healthcare to build a proton therapy center will enable us to lead in developing the next generation of proton therapy in China. It will give our physicians new tools to treat cancer patients and to contribute to improving the healthcare of the citizens we serve in Changchun City, in Jilin Province and throughout northeast China.”

Commenting on the agreement, Dr Hanif Kanji, CEO of Sinophi Healthcare said: “The Sinophi Proton Center in Changchun continues Sinophi’s commitment to work with leading Chinese hospitals to support the objectives of China’s healthcare reform programme. Our cooperation with China-Japan Union Hospital of Jilin University is our first investment in next generation, high precision medicine in China. Our goal is to reduce the equipment, operation and maintenance costs of proton radiotherapy so many more cancer patients can have access to the benefits of proton therapy in China. This Sinophi Proton Center is a wonderful example of making the benefits of a major breakthrough in medical technology available to all people.

About China-Japan Union Hospital of Jilin University

CJUHJI is located in Changchun in Jilin province and is one of north-east China’s leading hospitals. Founded in 1949 and formerly known as the Number 3 Affiliated Hospital of the Norman Bethune Medical University, today it is a AAA grade hospital with 3,328 in-patient beds. Under the direct jurisdiction of the National Health and Family Planning Commission and affiliated to Jilin University under the Education Ministry of China, CJUHJI integrates medical care, education, research, disease-prevention, healthcare and rehabilitation into one institution.

About Jilin University
Located in Changchun City, Jilin University is one of China’s leading universities and one of the largest, with over 60,000 students. Jilin University has established ties with 130 universities, colleges and research institutes in 40 countries. In addition to the China-Japan Union Hospital, the Changchun No 1 and No 2 Hospitals are also part of Jilin University.

About Changchun City
Changchun City has a population of more than 7.8 million and is the provincial capital of Jilin province (population 27 million). Known as China’s leading manufacturing location for automobiles and transportation equipment and as a major film production center, Changchun is a leading city in the north-east China region.

About proton therapy
There are three main forms of treatment for cancer: surgery, chemotherapy and radiotherapy. X-ray radiotherapy is the most used form of radiotherapy today. Proton therapy, using the energy released by protons to destroy cancer cells, is another form of radiotherapy. It is a validated treatment for cancer used since 1954, with more than 120,000 patients treated globally since then. Proton therapy is better able than X rays to target tumours and not surrounding organs, leading to reduced side effects and better quality of life for patients. It can reduce length of treatment and thus cost, and is particularly beneficial when tumours are located close to vital organs and for children with cancer.

About Advanced Oncotherapy plc  (www.avoplc.com)

Advanced Oncotherapy is a UK company listed on AIM on the London Stock Exchange (stock symbol: AVO).  Advanced Oncotherapy’s  subsidiary “ADAM”, a spin-off company from CERN based in Geneva, has developed the next-generation proton therapy systems for cancer treatment.  Advanced Oncotherapy and its LIGHT machine system greatly reduces the cost of proton beam therapy for cancer treatment and brings it within reach of many more patients.

About CERN  (www.cern.ch)
CERN is the European Centre for Nuclear Reasearch, located near Geneva in Switzerland.  CERN is one of the world’s largest and most respected centers for scientific research and the inventor of the most powerful particle accelerator ever built, the 27km Hadron Collider.

About Sinophi Healthcare  (www.sinophi.com)
Sinophi Healthcare is a UK company investing in and managing hospitals in China, focused on public general hospitals and selected specialty and super specialty hospitals. Sinophi works in partnership with hospitals in China’s rapidly growing urban areas to deliver improvements in the delivery of healthcare. Sinophi brings to hospitals in China international hospital expertise and technology, building links with hospitals in the UK’s National Health Service system and partnerships with leading UK and international healthcare service and product partners.

Sinophi signs China and SE Asia distribution deal with Advanced Oncotherapy for its proton treatment systems

On March 25^th 2015 Sinophi signed an exclusive 15-year agreement with Advanced Oncotherapy to be the company’s first tier distributor for the LIGHT proton system for cancer treatment in China and other countries in SE Asia.  Advanced Oncotherapy is a UK company based in London and develops next-generation proton therapy systems for cancer treatment.

Advanced Oncotherapy’s team based at CERN (European Centre for Nuclear Research) in Geneva focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit whose cost and size are significantly below industry standards. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older cancer treatment technologies.

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology derived from its ADAM subsidiary (Application of Detectors and Accelerators to Medicine), a CERN-spinout which AVO acquired in 2007.  As a result, Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects.

The size of the cancer treatment challenge in China and the opportunity for Sinophi and Advanced Oncotherapy is illustrated by data from the World Health Organisation’s “World Cancer Report”.  In 2012, China had 3.07 million newly diagnosed cancer cases, 21.8% of the world total.  China also had 2.2 million or 26.9% of the world’s total cancer deaths.  The report states China registered the most new cancer cases and deaths from four types of malignant cancer: liver, oesophagus, stomach and lung.

Commenting on the agreement, Sanjeev Pandya, CEO of Advanced Oncotherapy said:  “We are delighted to have teamed up with Sinophi Healthcare in China and Southeast Asia.  Sinophi brings its experience as an investor and manager of public hospitals in China and a decade of work on hospital projects around Southeast Asia.  We look forward to working with Sinophi to bringing Advanced Oncotherapy’s LIGHT proton beam system for cancer treatment to many hospitals in China and Southeast Asia.” 

Commenting on the agreement, Hanif Kanji, CEO of Sinophi said: “We are very excited to be working with Advanced Oncotherapy to bring this cutting edge LIGHT system to China and Southeast Asia.  AVO’s system is substantially lower in cost compared to current technology and it delivers performance advantages in treating a variety of cancer conditions.  Our work with Advanced Oncotherapy and its pioneering proton treatment technology fits very with Sinophi’s partnerships with and investments in public hospitals. We are committed to making the best treatments available and affordable to all patients.”

Commenting on the agreement, Simon MacKinnon, Chairman of Sinophi said: “Tackling rising rates of cancer and improving cancer patient survival rates is a top priority for the governments and health systems of China and the countries of Southeast Asia.  With public healthcare system budgets under great pressure everywhere, Sinophi and Advanced Oncotherapy’s world-leading proton beam cancer treatment system will save China and Southeast Asian countries billions of dollars over the next decade in treating cancer.”

About Advanced Oncotherapy Plc  (www.avoplc.com)

Advanced Oncotherapy is a UK company and developer of next-generation proton therapy systems for cancer treatment.  It is listed on AIM on the London Stock Exchange (stock symbol: AVO). Its LIGHT machine systems greatly reduce the cost of proton beam therapy for cancer treatment and bring it within reach of many more patients.

About Sinophi Healthcare  (www.sinophi.com)

 Sinophi Healthcare is a UK company investing in and managing hospitals in China, focused on public general and specialty hospitals.  Sinophi works in partnership with hospitals in China’s rapidly growing urban areas to deliver improvements in the delivery of healthcare. Sinophi brings to hospitals in China international hospital expertise, links with hospitals in the UK’s National Health Service system and partnerships with leading UK and international healthcare service and product partners.

Sinophi signs contract with Advanced Oncotherapy to purchase next generation “LIGHT” proton therapy system for $200m oncology hospital project in Huai’an City, China

On March 25^th 2015, Sinophi Healthcare announced the signing of a purchase agreement with Advanced Oncotherapy for one LIGHT proton therapy system.  The system will be installed in the regional oncology hospital in Huai’an City, in Jiangsu province, East China in which Sinophi will be investing.  With a planned project total investment of over $200 million, construction of the first phase of the project is expected to start in 2016. This will be first of a new generation of proton beam technology machines in China, much smaller and cheaper than current generation proton beam machines.

The LIGHT proton therapy system will form a key part of this overall oncology project, supporting up to three treatment rooms, one of which will have a gantry. Once completed the hospital will be one of the most advanced oncology facilities in China, serving a catchment area of more than 20 million people in Huai’an City and the surrounding areas of North Jiangsu province. Advanced Oncotherapy’s LIGHT systems will make Huai’an City and Sinophi’s partner hospitals leaders in the field of proton beam cancer treatment in China.

The initial purchase price for the accelerator is around US$40m with the final price dependent on customization and treatment options selected.  Under the agreement, Advanced Oncotherapy will build and install the LIGHT machine as well as providing long-term maintenance and support once the system has been installed and becomes operational.

Sinophi’s oncology hospital project partners include Huai’an City’s two largest hospitals: Huai’an First People’s Hospital (3,000 beds) and Huai Yin District Hospital (1,000 beds). Sinophi has a hospital management joint venture with Huai’an First People’s Hospital and, with its financial partners led by Morgan Stanley Private Equity Asia, has invested in Huai Yin District Hospital in a US$130m deal announced in December 2014.

On March 25^th 2015 Sinophi also signed an exclusive 15-year agreement with Advanced Oncotherapy to be the company’s first tier distributor for the LIGHT system in China and other countries in SE Asia.

Commenting on the contract, Sanjeev Pandya, CEO of Advanced Oncotherapy said: “We are delighted to have teamed up with Sinophi Healthcare as our partner in China.  Signing our first commercial purchase order for our LIGHT proton beam system in Asia for the Huai’an City oncology hospital project is a major milestone for Advanced Oncotherapy.  As an investor in and manager of public hospitals in China, Sinophi Healthcare brings us deep knowledge of the Chinese hospital system and wide access to the China market.  We look forward to working on this installation in Huai’an City and to working together with Sinophi team on many more projects in China.”

Commenting on the contract, Hanif Kanji, CEO of Sinophi said: “We are very excited to be working with Advanced Oncotherapy to bring this cutting edge LIGHT system to China.   AVO’s system is substantially lower in cost compared to current technology and it delivers performance advantages in treating a variety of cancer conditions.  For the oncology hospital project in Huai’an City, the Advanced Oncotherapy LIGHT system machine will result in substantial savings compared to purchasing an equivalent current generation proton system machine.  Added to this enormous cost saving are construction savings from a footprint a quarter of the size for this machine.  For public hospitals these are huge and very welcome savings in tackling the growing costs of treating cancer and we look forward to working with our partners in Huai’an City to building this regional oncology hospital.”

Commenting on the contract, Simon MacKinnon, Chairman of Sinophi said: “Sinophi invests in and manages public general and specialty hospitals in China.  Offering affordable proton therapy through our public hospitals fits very well with Sinophi’s goal of offering quality, affordable and accessible healthcare to all patients in China.  Advanced Oncotherapy’s world-leading technology is based on their partnership with one of the world’s most formidable and productive groups of scientists at CERN.  Sinophi will be working to bring this technology both to our own hospitals and projects in China and to other hospitals around China which will now be able to afford to purchase Advanced Oncotherapy’s proton beam machines. 

About cancer in China

The size of the cancer treatment challenge in China and the opportunity for Sinophi and Advanced Oncotherapy is illustrated by data from the World Health Organisation’s “World Cancer Report”.  In 2012, China had 3.07 million newly diagnosed cancer cases, 21.8% of the world total.  China also had 2.2 million or 26.9% of the world’s total cancer deaths.  The report states China registered the most new cancer cases and deaths from four types of malignant cancer: liver, oesophagus, stomach and lung.

The “2012 China Oncology Annual Report” states cancer is the No 1 health threat in China and the leading cause of death in 2012.  Only 15% of cancer patients in China receive radiotherapy while the international norm is 50-60%. 5-year survival rates are currently 31% in China and 68% in the USA.  As of 2014, there was only 1 proton beam therapy center in China, while there were 16 proton centers in operation in the USA and 13 under construction.

The mortality rate from cancer is almost three times higher than in advanced nations due to lack of early diagnosis and proper treatment.  Environmental pollution, tobacco usage and urbanization have contributed to the higher rates of cancer in China.

About Advanced Oncotherapy Plc (www.avoplc.com)

Advanced Oncotherapy is a UK company based in London which develops next-generation proton therapy systems for cancer treatment.  It is listed on AIM on the London Stock Exchange (stock symbol: AVO).

Advanced Oncotherapy’s team based at CERN (European Centre for Nuclear Research) in Geneva focuses on the development of a proprietary proton accelerator called Linac Image Guided Hadron Technology (LIGHT). LIGHT accelerates protons to the energy levels achieved in legacy machines but in a unit whose cost and size are significantly below industry standards. This compact configuration delivers proton beams in a way that facilitates a greater precision and electronic control which is not achievable with older cancer treatment technologies.

Advanced Oncotherapy is a provider of particle therapy with protons that harnesses the best in modern technology. As a result, Advanced Oncotherapy will offer healthcare providers affordable systems that will enable them to treat cancer with an innovative technology as well as better health outcomes and lower treatment related side effects.

Link to Advanced Oncotherapy announcement dated March 25^th 2015

About Sinophi Healthcare (www.sinophi.com)

Sinophi Healthcare is a UK company investing in and managing hospitals in China, focused on public general and specialty hospitals.  Sinophi works in partnership with hospitals in China’s rapidly growing urban areas to deliver improvements in the delivery of healthcare. Sinophi brings to hospitals in China international hospital expertise, links with hospitals in the UK’s National Health Service system and partnerships with leading UK and international healthcare service and product partners.

About Huai’an City

Huai’an City (population 5.5 million) is located in Jiangsu province (population 80 million, next to Shanghai) in East China.  Huai’an City is a famous cultural and trading center on the Grand Canal and is the hometown of former Chinese Premier Zhou Enlai.

Sinophi completes US$130 million project with Huai Yin Hospital in Huai’An City, Jiangsu Province, China

December 29, 2014

Sinophi China Hospitals Holdings Limited announced today a US$130 million project with Huai Yin Hospital in Huai’An City, Jiangsu Province.  Sinophi China Hospitals Holdings Limited is a company invested by Sinophi Healthcare, Morgan Stanley Private Equity Asia (MSPEA), Sihuan Pharmaceutical (Sihuan) and Euromax.  MSPEA, Sihuan and Euromax hold their investment in Sinophi China Hospitals Holdings Limited through a joint venture, Renfang Medical Holdings Ltd.

Simon MacKinnon, Chairman of Sinophi China Hospitals Holdings Limited and Sinophi Healthcare noted “Huai Yin Hospital is the first hospital invested by Sinophi China Hospitals Holdings in mainland China. We are committed to actively participating in the Chinese Government’s reforms of the healthcare system by investing in public hospitals, building new hospitals and bringing together international healthcare resources with leading Chinese hospitals, doctors and nurses in Huai’An and other cities.  Our hospitals will support the Chinese Government’s goals of delivering more accessible, more cost-effective and better quality healthcare services to all Chinese citizens.”

NOTES:

Huai’An City

Huai’An City (population 5.5 million) is located in Jiangsu province (population 80 million, next to Shanghai) in East China.  Huai’An City is a famous cultural and trading center on the Grand Canal and is the hometown of former Chinese Premier Zhou Enlai.

Huai Yin Government and Huai Yin Hospital

Huai Yin District (population around one million) is in the center of Huai’An City.  The Huai Yin District Government administers the Huai Yin Hospital, the largest district-level hospital in Huai Yin District in Huai’An City in Jiangsu Province. It is the third largest hospital in Huai’An City in terms of bed count.

The Huai Yin Hospital has been recognised as one of the best local level II general hospitals in HuaiAn City.  It covers a total of 116,000 square meters and gross floor area of 56,000 square meters with 1,085 beds, 17 functional departments and 24 clinical medical departments.  The departments of general surgery and urinary surgery are the two municipal key clinical specialties. The hospital has achieved over a 100% bed utilization rate for the past three years with over 490,000 annual outpatient visits in 2013.

Rapid economic development has contributed to a surge in local medical demand, which underpins Huai Yin Hospital’s important market position in Huai’An City.

Sinophi Healthcare

Sinophi Healthcare is a UK company focused on investing in and managing hospitals in China. Target businesses include public and private general hospitals as well as specialty hospitals.  Sinophi’s hospitals deliver quality, value-for-money healthcare in China’s rapidly growing urban areas. Sinophi brings international hospital expertise, links with hospitals in the UK’s National Health Service system and with leading UK and international healthcare partners to its hospitals in China.

Morgan Stanley Private Equity Asia

MSPEA is one of the leading private equity investors in Asia Pacific, having invested in the region for over 20 years. MSPEA invests primarily in highly structured minority investments and control buyouts in growth-oriented companies at attractive valuations. The experienced investment team is led by senior professionals with extensive industry relationships, in-depth market knowledge and the ability to apply international investment principles within each local context. MSPEA has offices in Hong Kong, Beijing, Shanghai, Seoul, Tokyo, Mumbai and New York, and leverages the brand and unparalleled global network of Morgan Stanley to source investment intelligence and opportunities. MSPEA is part of Morgan Stanley Merchant Banking & Real Estate Investing.

Sihuan Pharmaceutical Holdings Group Limited

Sihuan Pharmaceutical is a Hong Kong listed company (stock code: 0640).  Sihuan is a leading pharmaceutical Company with the largest cardio-cerebral vascular drug franchise in China’s prescription drug market by market share. The Group has a differentiated and proven sales and marketing model, supported by an extensive nationwide distribution network covering around 10,000 hospitals through over 3,000 distributors in all 31 provinces, autonomous regions and cities throughout the PRC.

Euromax is wholly-owned by Dr. Che Fengsheng, an executive Director of Sihuan and a substantial shareholder in Sihuan. The principal activity of Euromax is investment holding.

China healthcare sector

According to McKinsey data, the Chinese healthcare sector is set to grow at over 12% per annum, with total healthcare spend to exceed US$1 trillion by 2020.

According to the Chinese Centre for Disease Control and Prevention, Beijing, the major causes of disease and death in China have shifted from predominantly infectious disease and diet-related deficiency diseases to non-communicable diseases (NCDs) including hypertension, stroke, coronary heart disease, diabetes, cancers, etc. These account for 85% of deaths today (up from 50% four decades earlier).  China’s considerable efforts in healthcare reform are addressing the increased demand on the system from NCDs. The NCD burden in China continues to grow with recent studies estimating 114 million diabetics in China with another 493 million in a pre-diabetic state.

Following the twelfth Five Year Plan and the latest waves of healthcare reform commencing in 2009, Chinese government policy is encouraging the involvement of private and foreign capital into healthcare services and is targeting 20% of inpatient visits and beds to be serviced by the private sector by 2020 from current levels of below 10%.

For further information please contact:

Simon MacKinnon                  simon.mackinnon@sinophi.com

Prime Minister Cameron and Secretary of State for Health Hunt support Sinophi in China

December 3rd, 2013

In Shanghai today, UK Prime Minister David Cameron MP met with Sinophi Healthcare Chairman Simon MacKinnon and senior government officials from Huai’an City in Jiangsu Province in East China in support of deals worth UK£120 million between Sinophi and Huai’an City, Jiangsu Province signed in Beijing.

The signing ceremony took place in Beijing on December 2nd, with UK Minister of State for Trade and Industry Lord Livingston, Mr Tang Daolun, Vice Mayor of Huai’an Municipal People’s Government and Dr Catherine Raines, Minister and Director-General of UKTI China witnessing the signings.  These were for a joint venture to do hospital management with Huai’an First People’s Hospital (HAFPH), and two LOIs for a hospital acquisition and to build a 1,000 bed regional oncology centre in Huai’an City.

Speaking about Sinophi’s work in Huai’an, Prime Minister Cameron said “This deal highlights the enormous opportunity that the Chinese healthcare market presents for British healthcare firms – set to grow by $400 billion by 2017. I hope we will see many more partnerships and deals like this for British businesses in this market.”

UK Prime Minister David Cameron with Huai’an Party Secretary Yao Xiao Dong and Sinophi Healthcare Chairman Simon MacKinnon

On December 3rd in Shanghai, UK Secretary of State for Health Mr Jeremy Hunt MP met with Sinophi Healthcare Chairman Simon MacKinnon, Huai’an City Party Secretary Mr Yao Xiao Dong and Huai’an City Mayor Mr Qu Fu Tian.

 Huai’an Party Secretary Mr Yao Xiao Dong with UK Secretary of State for Health Mr Jeremy Hunt MP

Sinophi’s signings were reported by several Chinese domestic and international news services including:

The Financial Times:             “Cameron trumpets healthcare deals with China”

China.org:                                  “UK, China sign multimillion healthcare deals”

Intl. Business Times:             “UK and China agree £120 million Healthcare Deals in Cameron Trade Visit”

The full text of the Prime Minister’s press release from No 10 Downing Street is shown below:

Multimillion boost to UK economy as healthcare trade deals with China sealed

10 Downing Street, 2nd December 2013

The British economy is set to be boosted by more than £120 million thanks to a package of UK/Chinese healthcare deals, Prime Minister David Cameron announced today. The Prime Minister and Health Secretary, Jeremy Hunt witnessed the final agreements being sealed in China, during the Prime Minister’s three day visit to the country.

The deals include:

• Sinophi Healthcare signed contracts for hospital management and hospital investment worth £120 million. These include a joint venture with Huai’an First People’s Hospital, one of the biggest hospitals in Jiangsu Province (population 80 million people) in East China, and an agreement to build a 1,000 bed oncology hospital;
• Heythorp Healthcare signed a Memorandum of Understanding with Jiangsu Far East (Yadong). This is for a joint venture to develop a flagship, mixed use healthcare facility which will include elderly nursing, specialist dementia services and care training outside Jiangsu;
• Healthcare UK signed a Memorandum of Understanding with the CITIC Trust and Circle Partnership to unlock commercial deals for UK companies in areas such as primary care services, integrated care and education and training.
• IXICO signed a Memorandum of Understanding with the Beijing Union Medical and Pharmaceutical General Corporation. They will work together to support dementia diagnosis, advance public understanding of dementia and evaluate new treatments.

On the Sinophi deal, Prime Minister David Cameron said: “This deal highlights the enormous opportunity that the Chinese healthcare market presents for British healthcare firms – set to grow by $400 billion by 2017. I hope we will see many more partnerships and deals like this for British businesses in this market.”

Health Secretary Jeremy Hunt said: “These agreements will see UK firms exporting their expertise to China – building their businesses and investing in Chinese healthcare. Both countries will benefit from these new relationships and better trade links.”

Estimates are that the OECD and BRIC nations will increase spending on healthcare by 50% between 2010 and 2020 to $7.5 trillion. This demonstrates the size of the opportunity for UK firms.

Alongside this effort to improve trade with China, Jeremy Hunt also announced that the UK will embark on a new stream of work with China on Anti-Microbial Resistance (AMR).

Jeremy Hunt said: “Drug resistant infections are a huge threat to global health and an only be dealt with by collaboration across all borders. Working with China and other countries is crucial in fighting AMR, and I am pleased that the UK will be exchanging expertise and developing new areas for action as part of a global partnership.”

Furthermore, Jeremy Hunt also outlined a new partnership with China on care of older people, with a focus on dementia. This is due to be finalised tomorrow.

He said: “Both the UK and China face similar challenges in caring for ageing populations. There is a great deal that we can learn from each other in this field, and we believe UK companies have much to offer in the Chinese elderly care market.”

Source:     https://www.gov.uk/government/news/multimillion-boost-to-uk-economy-as-healthcare-trade-deals-with-china-sealed

Huai’an City

Located in Jiangsu Province in East China, Huai’an City is a fast growing city with an urban population of over 2.5 million and an additional 3 million population in its rural areas.  Sited on the Grand Canal connecting Beijing with Hangzhou (close to Shanghai), it has a long history as a trading and cultural center.

Huai’an First People’s Hospital

HAFPH is one of north Jiangsu’s leading general hospitals.  Located in the city of Huai’an (urban population 2.5m, total population over 5.5m) in the province of Jiangsu (population of over 80 million) next to Shanghai in East China, HAFPH was founded in 1950.  On completion of current expansion, HAFPH will have over 3,000 beds, with well known specialty departments including oncology, cardiovascular, neurology and gastroenterology.