Bolstering its commitment to improving human health and increasing access to quality healthcare worldwide, Weill Cornell Medicine has entered into an agreement with Tahoe Investment Group Co. Ltd. to assist in the development of an international hospital in Shanghai, China.
Under the agreement, Weill Cornell Medicine will work with Tahoe Investment Group, the investment arm of a leading Chinese real estate company. Tahoe Investment Group owns a majority interest in Alliance Healthcare Services (USA) and biopharmaceutical companies in China, and is developing hospitals in major cities across China. Weill Cornell Medicine and Tahoe will develop a feasibility study for an international general hospital to be located in Shanghai, China’s largest city and the third most populated city in the world. Utilizing its expertise in medical education and patient care, Weill Cornell Medicine will provide key insights that will help guide the planning process for the hospital, which would incorporate Western medical standards. A signing ceremony on Jan. 6, attended by officials from Weill Cornell Medicine and Tahoe Investment Group, marked the occasion.
The exploratory study will assess the hospital’s feasibility, size and scope, facility planning, medical specialties and diagnostic capabilities, overall project concept and initial development. The work with Tahoe Investment Group will also involve evaluating the prospect of a specialty education center, in conjunction with the hospital, which would offer international training programs for healthcare professionals.
“As a leader in world-class healthcare, one of Weill Cornell Medicine’s primary missions is to enhance human health both at home and abroad, providing patients with the highest quality care,” said Dr. Augustine M.K. Choi, the Stephen and Suzanne Weiss Dean of Weill Cornell Medicine. “By leveraging our expertise in operational management and clinical excellence, we hope this project will serve as a leading example of international collaboration as we work with Tahoe Investment Group to develop a facility that will benefit both patients and the healthcare community in China.”
“As the healthcare market in China continues to grow and demand increases, we believe Weill Cornell Medicine is uniquely positioned to offer the medical knowledge and know-how to help improve healthcare delivery and expand access,” said Dr. Michael G. Stewart, vice dean, the E. Darracott Vaughan, Jr., M.D. Senior Associate Dean for Clinical Affairs and chairman of the Department of Otolaryngology – Head and Neck Surgery at Weill Cornell Medicine, and chief medical officer of Weill Cornell Medicine’s Physician Organization. “This initiative will also offer mutually beneficial opportunities for scientific innovation, collaboration and education, and we look forward to working with our partners on a project that we hope will have a lasting effect in China.”
The proposed hospital site is in the Yangpu District, an area of Shanghai that has yet to establish an international hospital, where the new facility will address both the needs of the local market and serve as an international medical facility for expatriates. This new venture follows recent efforts by Weill Cornell Medicine to pursue similar projects in China, joining other international healthcare organizations, such as Mayo Clinic and Johns Hopkins Medicine, in exploring the evolving Chinese healthcare market.