Daily Newsletter

30 October 2023

Daily Newsletter

30 October 2023

Hainan Guoxie begins medical industrial park construction in Hope City

The new park will cover the manufacturing and global trade of essential medical devices.

RanjithKumar Dharma October 30 2023

Hainan Guoxie Technology Group, a subsidiary of Meihua International Medical Technologies (MHUA), has started the construction of a medical industrial park project in the Hainan Free Trade Port Boao Hope City (Hope City) in China.

Designed to be built as a high-end comprehensive medical industrial park, the new project is being constructed on the land that was acquired earlier around Hope City.

MHUA has successfully made the final payment to acquire the land in Hope City, securing a land use right for 50 years for a total area of 47,971m².

When completed, the medical industrial park will cover the manufacturing and global trade of essential medical devices.

The primary focus of the new facility will be on researching, developing, manufacturing and testing surgical robots.

The company is currently in the process of finalising the details for a collaboration with an Israeli company to develop and produce surgical robot technology.

These robots will primarily be used for the remote training of doctors and performing complex surgeries.

The new park will also include a secondary hospital for providing a comprehensive range of services, including stem cell extraction and storage, clinical trials and advanced therapeutic solutions. These services will be integrated with robotic assistance.

The hospital is expected to house over 300 individual beds, with a primary focus on serving discerning clientele and the elderly wellness communities.

According to the plan, the industrial park will have a research and development centre for medical products.

An assembly production workshop for imported goods and an export sales company will also be part of the medical park.

In addition, it will offer integrated solutions for hospital-based elderly care services.

MHUA chairman Yongjun Liu said: “The entire venture aims to provide cutting-edge and innovative solutions for medical services in Qionghai and the surrounding regions of Hainan.

“Leveraging the unique policy advantages of Hope City and the exceptional wellness environment it offers, we are committed to continuing to introduce exceptional exported products and patents in research and technology.”

Is the healthcare industry ready to fully embrace the benefits of digitalization and AI?

The healthcare, pharma, and medical devices industries are often risk-averse compared to other sectors when adopting new technologies. However, mainly due to COVID-19, these sectors have witnessed an acceleration in digital transformation. AI can revolutionize the drug discovery process and significantly reduce the time and cost to get a drug to market, particularly in areas of unmet need. There is also huge potential for AI in medical diagnostics. However, using healthcare data for AI development raises data privacy concerns, thereby limiting its adoption.

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