ECON Healthcare to open second nursing home in China
The project with a 280-bed capacity is expected to operate by 2022.
ECON Healthcare Group has signed a shareholders’ agreement with its joint venture partner, Chongqing Changshou Yikang Bailingbangyanjia Eldercare Co., Ltd. to open its second nursing home in China.
The new nursing home, targeted to be operational by 2022, forms part of ECON Healthcare’s expansion in China.
It will have a 280-bed capacity, which is six times more than the bed capacity of its first nursing home, ECON Medicare Centre and Nursing Home at Chongqing Jiefangbei.
ECON Medicare started operations last month and has so far achieved a 30% occupancy rate.
“Our two nursing homes in China provide us the opportunity to adapt our services and business models to serve the needs of the middle to affluent elder market.” Ong Chu Poh, Founder, Executive Chairman and Group CEO of ECON Healthcare (Asia) Limited, said.
The new nursing home project will be located at Changshou, Chongqing. It will be operated by Changshou Yikang Bailingbangyanjia.
In addition, ECON Healthcare is also expected to operate its 8th nursing home in Singapore in 2022. The ECON Medicare Centre and Nursing Home – Henderson will have a 236-bed capacity.