Columbia China Starts Construction On $150M Hospital in Jiaxing, China
Columbia China (Shanghai, China), a 50-50 joint venture between Seattle’s Columbia Pacific Management and Singapore investment company Temasek, started construction this week on a 500-bed multi-specialty hospital in Zhejiang Province. The groundbreaking occurred just eight months after acquiring the land.
Columbia Jiaxing Hospital, which is set to open in 2019, will cost US $150 million (RMB 1 billion) to construct and is Columbia China’s second greenfield hospital.
Columbia China currently operates Shanghai Kaiyuan Orthopedic Hospital (232 beds), two multi-specialty clinics, and three senior living facilities in Shanghai and Beijing. The company also has a growing pipeline of other projects, including hospitals and senior living facilities.
Columbia China chose the city of Jiaxing for its new hospital because of the city’s strategic location in Zhejiang Province and its population of 4.5 million people. The hospital will be located within the Jiaxing Economic and Technological Development Zone, which has been positioned by the Jiaxing government as a platform for local advanced manufacturing, modern services and urbanization.
Columbia Jiaxing Hospital will be built in accordance to Joint Commission International (JCI) standards. Upon completion, it will have a construction floor area of 120,000 square meters, with 500 beds; 10 operating rooms; six labor, delivery, recovery and postpartum (LDRP) rooms; and advanced diagnostic equipment.