In 2018, OUELH acquired a 50% shareholding interest in China Merchants Lippo Hospital Management (Shenzhen) Limited ("CMLHM"), a 50:50 joint venture company with China Merchants Shekou Industrial Zone Co., Ltd ("CMSK"). CMLHM has subsequently entered into various Chinese markets such as Shanghai, Chongqing and Nanjing.

The Group has also entered into a letter of intent ("LOI") with CMSK to develop a flagship international hospital in Prince Bay, Shekou, Shenzhen, to service the healthcare needs for the Greater Bay Area.

OUELH will continue to extend its healthcare presence in China, pairing its depth of experience and expertise in healthcare management with the vast resources of China Merchants Group.

In addition, OUELH is in the midst of developing an integrated hospital project in Dujiangyan, Chengdu, which is expected to fill an existing gap due to a lack of high-quality medical services in the area.

Following these developments, OUELH currently has presence in 6 major cities in China – Chengdu, Shenzhen, Wuxi, Chongqing, Shanghai and Nanjing.

The Company believes that its international healthcare management expertise coupled with the deepening partnership with China Merchants Group, will put OUELH in good stead to capture the growing healthcare opportunities in China.