SHANGHAI HOSPITAL JOINT VENTURE ATTRACTS GERMAN INVESTMENT

Siemens, Asklepios Kliniken and the Tongji University in Shanghai have establishment a joint venture hospital project that will invest more than €100 million (US$141 million) to constructing a hospital in the Shanghai International Medical Zone. The first construction phase of the Chinese-German friendship hospital is to be completed in 2009. The aim is to commission the hospital before the World Expo in 2010 with the prospective of a capacity of initially 250 beds, to be extended in a second phase to 500 beds.

The joint venture comprises the construction and operation of the hospital. The Tongji-University holds 46%, Siemens Project Ventures 40% and Asklepios Kliniken 14% of the shares in the joint venture company.