365mc Hospital, a Seoul-based medical institution offering obesity treatments and liposuctions, said it would establish the world’s largest obesity-specialized hospital in China.
The Korean hospital signed a memorandum of understanding with Sichuan Tianfu Innovation and Entrepreneurship Technology and Lions Capital Management to advance the medical cosmetics industry at the Shilla Seoul, Monday.
Under the agreement, 365mc will set up a hospital targeting obese patients in Chengdu in Sichuan Province. In 2008, the city was designated as China’s medical cosmetics specialized zone.
|Kim Nam-chul (center), CEO of 365mc Hospital, celebrates the signing of a memorandum of understanding with Sichuan Tianfu Innovation and Entrepreneurship Technology and Lions Capital Management to advance China’s medical cosmetics industry at the Shilla Seoul, Monday. (Credit: 365mc)|
Sichuan Tianfu and Lions Capital will prepare for a site and capital, and 365mc will offer liposuction skills based on Artificial Intelligence-assisted Liposuction System (MAIL System). Lions Capital plans to invest more than 100 million yuan ($14.6 million) for the project.
The three companies will establish a joint entity to build a medical cosmetics center, a training site, and an incubator center. They will come up with a medical cosmetics industry development project to treat obese people from around the world.
According to 365mc, the number of overweight Chinese people has reached 90 million. The Chinese medical cosmetics market is expected to grow to 265 billion yuan by 2020. Chinese industry data showed that one in two and a half people in the world who had plastic surgery was Chinese.
365mc said the upcoming obesity hospital in China would be the first to promote its brand name overseas by utilizing its IT-healthcare integration technologies. The company will equip the obesity hospital in Chengdu with its technology called Local Anesthesia Minimal Invasive LipoSuction (LAMS).
“Operating a hospital brand in a network, I have thought that medical service quality should be at the highest level at all times,” said Kim Nam-chul, CEO of 365mc. “With 365mc’s medical technology that has focused only on obesity for 15 years, we will do our best to treat not only 90 million Chinese but all the obese people in the world.”
Zhao Lei, chairman of Lions Capital, said it was essential to cooperate with the best partner who has expertise in medical beauty technologies to succeed in the medical cosmetics special zone of Chengdu. “Since 2016, China has become the world's largest obesity market. Such a market will create synergy with the best medical institution that specializes in obesity,” he said.
The Chinese government pledged to support the project actively.
Yin Li, Governor of Sichuan Province, who joined the MOU signing ceremony in Seoul, said the Chinese authorities would cooperate with the companies to help Chengdu become China’s largest medical cosmetics city. “We expect to further advance the Chinese beauty medical industry through excellent Korean beauty medical technology,” he said.
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