Raffles Medical eyes insurance joint venture in China

It inked a memorandum of understanding with China Taiping Insurance Group.

RafflesMedicalGroup (RMG) and China Taiping Insurance Group (CTIG) signed a Memorandum of Understanding (MOU) to jointly provide medical and healthcare insurance solutions as well as healthcare management services and explore health-related real estate opportunities.

According to an announcement, CTIG and RMG will explore setting up a joint venture company in China to offer a range of medical and healthcare insurance products as well as healthcare management services.

The MOU will enable CTIG to appoint RMG as its preferred network of medical providers for its insured members (covering individual and corporate), staff and their dependents, as well as affiliates of CTIG.

CTIG and RMG will also co-operate to actively explore opportunities in investment, management and consulting businesses in health-related real estate in China including medical facilities, elderly homes and retirement villages.