In April of 2017, PreferUS Healthcare and Sungin (a member company of China based Fosun) entered into a strategic cooperation agreement that resulted in the two parties forming a joint venture company. The joint venture company will address the growing hospital management and consulting opportunities in the China healthcare marketplace.
The signing of the deal took place exactly one year after both companies initially began discussing the benefits of a China healthcare collaboration.
As the partnership began to take form, PreferUS’ vision and service line offerings were also evolving. Through cooperation with their existing China side partners, and recognizing the emerging trends within the China healthcare industry, PreferUS is today positioned as a hospital management, consulting and investment services company.
PreferUS and Sungin share a mutual vision to acquire healthcare projects that can be improved from a quality and efficiency standpoint through the utilization of their newly combined resources and skill sets.
Sungin will provide both a strong channel to the Fosun Group as well as their core product line that focuses primarily on the formation of pension institution, rehabilitation care and community health services to the growing senior care healthcare market. They have also committed to providing a full range of high quality health services and product lines for Chinese families.
According to PreferUS Founder and CEO, Michael Franz, “PreferUS is very proud to be partnered with Fosun’s key healthcare division, Sungin. The opportunity to combine our synergistic talents in addressing the rapidly growing China healthcare market will result in a successful business venture while also delivering a higher level of medical services to the people of China”.