Meihua International Medical Technologies Co., Ltd (NASDAQ: MHUA), has announced the acquisition of a land plot in the Boao Lecheng Medical Tourism Pilot Zone of Hainan Province for RMB 24.06 million (USD 3.5 million), with a 50-year land usage right. The company plans to develop a comprehensive healthcare industrial park on this land.
Phase 1 Development and Project Scope
The first phase of construction for the healthcare park is anticipated to be completed by the end of 2024. It will encompass a range of facilities including centers for product research and development, incubation, and production and sales training. Additionally, the park will feature import and export product assembly centers and technology introduction hubs, as well as integrated elderly care and wellness buildings.
Strategic Framework Agreement and Future Developments
In February 2023, Meihua announced a framework agreement with the government of Qionghai City, Hainan, to establish a science and technology park. The products and services to be developed within this park will include minimally invasive interventional medical equipment, healthcare medical consumables, and stem cell therapy, among others. This strategic move aligns with Meihua’s commitment to innovation and growth in the medical technology sector, aiming to provide advanced healthcare solutions and contribute to the development of the medical tourism industry in Hainan.-Fineline Info & Tech
