Chinese healthcare firms expand overseas to support growing expat community
Privately owned Distinct Healthcare plans to open a clinic in Dubai, while TCM group Gushengtang eyes 50 centres in Southeast Asia
Chinese healthcare companies are looking to expand overseas to serve Chinese communities in regions such as the Middle East and Southeast Asia, where many mainland companies are setting up operations across sectors.
“A wide range of Chinese companies are expanding overseas,” setting up local operations and bringing Chinese employees with them, said Philip Wang, CEO of Distinct Healthcare Holdings, in an interview on Monday.
“Chinese expatriate workers are often not familiar with the local healthcare system,” said Wang. “If there is a Chinese-run clinic, they may come to us. We can help bridge the language gap … or we can help connect them with some local resources to assist them.”
He added that the company plans to follow the flow of Chinese customers into international markets.
The Shenzhen-based private healthcare service provider plans to open its first clinic in Dubai, the financial hub of the United Arab Emirates, this year, after making inroads earlier into Singapore and Kuala Lumpur, Malaysia.
On Friday, Distinct Healthcare raised HK$284.53 million (US$36.4 million) from its initial public offering (IPO) in Hong Kong, according to an exchange filing. Its stock has lost about 11.5 per cent since the listing, closing at HK$60.10 on Tuesday.