Jiuhao Health Brings In China Life (Overseas) As Strategic Partner For Multi-field Business Cooperation And Expansion Into Insurance Operation
HONG KONG, Oct. 16, 2013 /PRNewswire/ -- China Jiuhao Health Industry Corporation Limited (formerly known as "Media China Corporation Limited"; "Jiuhao Health" or the "Company", together with its subsidiaries known as the "Group") (stock code: 00419.HK) is pleased to announce that the Company has entered into a strategic cooperation framework agreement with China Life Insurance (Overseas) Company Limited ("China Life (Overseas)") for multi-field business cooperation. This strategic partnership enables the Group to extend its value chain from health preservation and retirement services to insurance services, thereby driving its sustainable business growth.
China Life (Overseas), a wholly owned subsidiary of China Life Insurance (Group) Company in Hong Kong, is mainly engaged in life insurance, investment linked insurance, healthcare insurance, pension funds and mandatory provident funds, as well as fund management.
According to the agreement, the Group and China Life (Overseas) will cooperate strategically in the following five areas: products, customer resources, business, marketing channels and investment. Both parties can thus realize resource sharing, business interconnections and reasonable expansion of their value chains. They will join together to develop products which combine insurance with health services and/or retirement products and explore new markets. By sharing each other's customer management information systems, both sides can carry out effective customer database marketing. They will also push ahead with cooperative marketing, joint marketing and promotion.
China Life (Overseas) commented, "After years of rapid development, China Life (Overseas) has evolved into a leading life insurance company in Hong Kong and Macau in terms of overall strength, with annual premium income of nearly HK$20 billion. Moreover, our revenues from new insurance contracts are amongst the highest in Hong Kong. The provision of retirement and healthcare services to customers is a future business direction we will head for and focus on. Jiuhao Health is dedicated to developing unique high-end healthcare facilities and health preservation and retirement complexes throughout China, offering the elderly who pursue healthy lives comprehensive and exclusive green health management, health preservation and retirement solutions. Through the cooperation with Jiuhao Health, China Life (Overseas) will develop products for high-end policyholders that integrate insurance with healthcare and / or retirement services so as to meet their demand for healthcare, medical, health preservation and retirement services. Our customer services will therefore be further enhanced. Through the cooperation, we will complement each other, drive business innovation, create a win-win situation for both sides and facilitate our collaboration."
Mr. Yuen Hoi Po, Chairman of Jiuhao Health, said, "There is huge demand for health preservation and retirement services in China due to its ever-increasing elderly population. The State Council has recently released the 'Views on Promoting the Development of Health Industry', calling for the massive deployment of social resources to create a favourable environment for the growth of health services. It aims to develop a number of famous health services enterprises with sustainable growth by year 2020, which can compete effectively in the international market. The total size of the country's health industry is expected to increase to more than RMB 8 trillion then. Moreover, the government should encourage the development of comprehensive health insurance services by creating a platform to facilitate the cooperation between insurance companies and medical, body-check and healthcare service providers. In order to firmly grasp opportunities arising in the market, the Group is vigorously driving the development of its healthcare services platform and strives to create the 'Green Healthcare Channel' and a nationwide cloud-based platform for healthcare information management system known as the 'Cloud Healthcare Platform'. We will combine them with premier leisure facilities such as Bayhood No.9 Club and supreme facilities such as Beijing Health Preservation Si He Yuan and Hotel to create a comprehensive health preservation and retirement services network so that our members can enjoy one-stop health management services. Recently, we entered into a strategic cooperation agreement with China-Japan Friendship Hospital. We will leverage on the hospital's international, professional and high-standard medical support services to provide our members quality healthcare services from the hospital's specialists through the 'Green Healthcare Channel'. Through the strategic partnership with China Life (Overseas), we can extend our value chain to insurance operations. We can also tap into its extensive sales, marketing channels and customer databases to reach its customers. China Life (Overseas)'s customers have the exact target customer profile of our Cloud Healthcare Platform. These strategic moves allow us to deliver more comprehensive and superior services to customers, to grow health preservation and retirement services bigger and stronger, thereby delivering more value to shareholders."
About China Jiuhao Health Industry Corporation Limited
China Jiuhao Health Industry Corporation Limited (formerly known as "Media China Corporation Limited"; Stock Code: 00419.HK) engages in health operations in the PRC under the name of "Jiuhao". Its primary focus is the development of health preservation and retirement projects, as well as its healthcare information management platform "Cloud Healthcare Platform". It is planning to build China's first membership-based health preservation chain complex — China Jiuhao Health Town in the coming decade and will build its first flagship project by combining the development of "Cloud Health Platform", Bayhood No.9 Club and Beijing Health Preservation Si He Yuan and Hotel.
For more details, please refer to its website: www.jiuhaohealth.com.
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