Perennial Real Estate to set up its first TCM treatment facility in Singapore
Singapore-listed property and healthcare firm Perennial Real Estate Holdings is partnering with a traditional Chinese medicine (TCM) hospital to establish its first treatment facility in Singapore.
Perennial Real Estate has entered into a strategic partnership agreement with Beijing Hospital of TCM through its joint-venture company Perennial TCM Management. The pair will jointly set up Ming Yi Guan at the House of Tan Yeok Nee within the Orchard Road precinct – set to be Singapore’s largest premier TCM treatment facility when it opens at the end of this month.
Ming Yi Guan will be Perennial’s first healthcare business in Singapore. It will also be Beijing Hospital of TCM’s first treatment facility outside China, and in Southeast Asia. Under the partnership, Beijing Hospital of TCM will second a team of senior Chinese TCM physicians to Ming Yi Guan on rotation while Ming Yi Guan will be managed by Perennial TCM Management, said Perennial in a statement.
Both Perennial TCM Management and the House of Tan Yeok Nee, a gazetted National Monument, are equally owned by Perennial through its wholly-owned units, and Charles Quay International.
Ming Yi Guan will provide TCM services in the areas of chronic illnesses, oncology, subfertility, gynecology, dermatology, pain management, and health enhancement.
“As consumers in Singapore and Southeast Asia increasingly embrace TCM as a form of complementary medicine to Western medicine, Ming Yi Guan is well-positioned to deliver an unparalleled level of treatment and service in an exclusive environment,” Liak Teng Lit, group COO of Perennial and chief executive of Perennial Healthcare, said.
“In addition, the collaboration would facilitate the exchange of knowledge and skill sets between the Chinese and local physicians, thereby raising the bar for TCM standards and expertise in Singapore.”
The signing of the partnership was attended by IE Singapore chairman Seah Moon Ming, Wang Xiaoming, deputy secretary general of Beijing Municipality, as well as other representatives of the Beijing Municipal Administration of Hospitals, among others.
Subscribe
If you enjoyed this article, subscribe to receive more just like it.
