Genetic technology the new project for former Chinese property developer
Former property firm Vcanland has made the move into biosciences to cater to projected growth in prevention and earlier diagnosis of disease
Vcanland Holdings Group is spearheading a search for a national miracle cure.
As the country faces rising health bills from illnesses such as cancer, Vcanland is buying and commercialising top bioscience firms and products to help the nation lower its bills for health problems through disease prevention and early diagnosis.
Vcanland president Wei Song said the company was scouting the latest gene and cell technologies abroad not only to expand business, but to cater to mainlanders' growing desire to safeguard their health.
"Ageing and pollution will impose on China and its people a big price for health," Wei said . "Chinese people's spending on health will definitely exceed the pace of economic expansion.
"Gene and cell technologies offer us a golden opportunity to save on those health costs."
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Vcanland, established by billionaire Li Defu in Tianjin in 1992, started out as a residential property developer in the city's Binhai New Area. It restructured in 2010, making the shift from property to biosciences. It now controls Shanghai-listed Zhongyuan Union Cell & Gene Engineering, a mainland leader in genetic testing and cord blood cell storage. The company also provides care services for the elderly and runs investment funds focusing on health care.