Shenzhen New Frontier United Family Hospital, a private high-end hospital that is set to open its doors later this year, will try to attract the affluent and middle-class residents of the Greater Bay Area with competitive pricing. The hospital, which is owned and will be operated by United Family Healthcare (UFH), is expected to open in September, said Carl Wu, the chief executive of New Frontier Group, which owns and runs UFH . New Frontier is an investment firm co-founded by Wu and Antony Leung Kam-chung , Hong Kong’s former financial secretary. Leung also chairs the company. “[It will be] just like Hong Kong Sanatorium & Hospital – a comprehensive high-end private hospital. But we will offer slightly lower priced packages,” Wu said in an interview with the Post . For instance, services such as dental could be 50 per cent cheaper, he added. The hospital aims to carve out a niche for itself through attractive pricing, but it will also bank upon the need for such facilities in Shenzhen, which has risen from a tiny fishing village to become “China’s Silicon Valley” in four decades. “There is a shortage of international-standard private comprehensive multi-specialty hospitals in Shenzhen, especially in the city’s downtown,” Wu said. Shenzhen’s population grew to 17.56 million by the end of last year, according to data released by the Bureau of Statistics of Guangdong Province on Saturday. Of this number, 79.53 per cent were aged between 15 and 59 years old. Moreover, the city’s number of hospital beds per 1,000 people was 3.83 in 2019, while its per capita health spending was about 2,496 yuan (US$387.70), both lagging far behind other major Chinese cities such as Guangzhou, Shanghai, Chengdu and Beijing. “Shenzhen has attracted up to 500,000 new arrivals each year. Medical services are a shortcoming, as the supply has failed to meet growing demand,” said Cathy Jiang, partner at PwC Hong Kong’s Tax & China Business Advisory Services. Located in the heart of Futian district, near the Shawei metro station, the new hospital will also be the largest such facility in UFH’s network. Swire Pacific acquired a 20 per cent stake in the hospital for an undisclosed amount in March. As one of the few comprehensive multi-specialty hospitals in the city, Shenzhen New Frontier United Family Hospital will focus on obstetrics, gynaecology, paediatrics and family medicine in light of Shenzhen’s young population, Wu said. Construction of the hospital will be completed in July. The facility will benefit from mainland China’s bulk drug buying programme, which was launched last year. The programme could push the prices of various drugs lower than those in Hong Kong, Wu said. Another area of emphasis for the hospital will be aesthetic medical services, as Shenzhen plans a beauty economy push and builds itself as an international aesthetic medical centre, Wu said. On April 26, the Shenzhen Municipal Bureau of Commerce took the lead in drafting a framework to turn the city into an international consumer centre. The plans mention that Shenzhen should strengthen its medical beauty industry and attract talent, funds and market players to accelerate this development. As of last year, the Chinese aesthetic treatments industry surpassed US$30 billion, but the country’s overall use rate is still far behind that of developed countries, according to a report released by the Aesthetic Medical International Holdings and Forbes China in February this year. UFH, which was acquired by New Frontier in 2019, was founded by Roberta Lipson in 1997. It is now one of the largest integrated private health care service providers in China by revenue.