Ramsay Health Care has struck a joint venture agreement to open a string of high quality international hospitals in China's Pearl River Delta.
Ramsay on Thursday confirmed the joint venture with Jinan University No.1 Affiliated Hospital also known as Guangzhou Overseas Chinese Hospital, with support for the venture from the Chinese government.
"It is the intention of both parties ... to establish a number of high quality international hospitals in China's Pearl River Delta in collaboration with Chinese state-owned medical institutions," Ramsay said in a statement.
Situated on China's south coast, the Pearl River Delta is one of the world's most densely populated regions.
Ramsay Health Care is one of the largest private hospital groups in the world with 212 hospitals located across Australia, France, the United Kingdom and Asia.
Its shares closed 18 cents higher at $61.98.
