SINGAPORE,Dec. 16,2024 --Perennial Holdings Private Limited ("Perennial Holdings") is pleased to announce that Perennial General Hospital in Tianjin city ("Perennial General Hospital Tianjin"),China,has become the country's first wholly foreign-owned private tertiary general hospital after it successfully passed the city's Municipal Health Commission's stringent hospital inspection and obtained its Medical Institution Practice Licence. The 500-bed tertiary multi-disciplined hospital,developed and equipped at a total investment cost of RMB1 billion,is expected to commence operations soon.

In September 2024,China's government announced that fully foreign-owned hospitals will be allowed to operate in several key cities,including Beijing and Tianjin. Perennial Holdings,who already has an established presence in the country's medical care and eldercare space,immediately took swift action to align its overall healthcare business strategy with the government's policy to open up its healthcare sector.

Located in Xiqing District,Perennial General Hospital Tianjin forms part of the medical care component within Perennial Tianjin South High-Speed Railway ("HSR") International Healthcare and Business City ("PIHBC Tianjin"),which is adjacent to the Tianjin South HSR Station. PIHBC Tianjin is China's first-of-its-kind large-scale HSR transit-oriented development ("TOD") integrating eldercare,medical care and hospitality components. PIHBC Tianjin also comprises the Perennial Eldercare Community with over 1,800-beds and four hotels of different star ratings totalling about 1,000 rooms.

Perennial General Hospital Tianjin (within PIHBC’s Medical Cluster) (Day Shot)

Perennial General Hospital Tianjin (within PIHBC’s Medical Cluster) (Night Shot)

Perennial General Hospital Tianjin - Orchid Feature Wall

Perennial Tianjin South HSR International Healthcare and Business City (Night Shot)

Perennial Holdings is the developer,owner,operator and manager of Perennial General Hospital Tianjin. Designed by an award-winning global architectural design firm and built in strict compliance with national standards,Perennial General Hospital Tianjin features a unique asset-light co-medical space concept for doctors and medical groups,where they focus solely on providing medical consultations and treatments without investing in medical facilities and services.

Perennial General Hospital Tianjin - Consultation Room

Perennial General Hospital Tianjin - Single-bed Room

Doctors and medical groups can instead rely on the shared medical facilities and services ("Shared Medical Platform") provided and managed by Perennial Holdings,including advanced operating theatres,cutting-edge diagnostic imaging equipment and an extensive clinical laboratory. The introduction of Singapore's Shared Medical Platform concept at Perennial General Hospital Tianjin offers convenience and cost efficiency to doctors and medical groups,allowing them to grow and scale their practices.

Perennial General Hospital Tianjin - Operating Theatre

Perennial General Hospital Tianjin - Revolution CT Power Machine

Perennial General Hospital Tianjin - Rehabilitation Centre

Perennial General Hospital Tianjin - 24-seater Hyperbaric Oxygen Chamber

Perennial General Hospital Tianjin will establish a highly qualified specialist medical team to offer a comprehensive suite of medical disciplines,including orthopedics,ophthalmology,otolaryngology,nephrology and immunology,cardiology,oncology and other fields. Its International Clinic will offer individualised medical care,including health maintenance and chronic disease management. To date,collaborations have been established with renowned doctors and medical groups.

The 500-bed Perennial General Hospital Tianjin,a tertiary general hospital,is an integral part of PIHBC Tianjin's hospital ecosystem,together with the 200-bed Perennial Rehabilitation Hospital Tianjin,a secondary rehabilitation hospital,the 300-bed Eber Perennial Brain Hospital Tianjin,a tertiary brain hospital,and the 300-bed Perennial Nursing Hospital Tianjin. Perennial General Hospital Tianjin also strengthens our care and support for the 1,800 seniors living in the Perennial Eldercare Community within our precinct,in conjunction with the rehabilitation hospital and nursing hospital. With a total portfolio of 1,300 hospital beds and diverse specialisations,PIHBC Tianjin is well-positioned to provide multi-faceted and holistic care to the community within the Xiqing District and the wider Beijing-Tianjin-Hebei region via the adjacent Tianjin South HSR Station's subway and HSR networks.

Mr Pua Seck Guan,Executive Chairman and Chief Executive Officer of Perennial Holdings,said,"We are excited to develop,own and operate China's first wholly foreign-owned private tertiary general hospital,Perennial General Hospital Tianjin,following China's recent move to open up its healthcare sector. This being the first general hospital built and managed by Perennial Holdings further adds to the significance of this milestone."

Mr Pua added,"Our unique asset-light co-medical space concept for doctors and medical groups with different partnership models,allows us to embrace many medical professionals and build an extensive and sustainable ecosystem to further the growth of our healthcare business in China. The Singapore-modelled Shared Medical Platform also supports them to expand and scale alongside us with minimal capital investments."

Commenting on the opening of China's healthcare market,Mr Pua remarked,"We highly commend China's open-door foreign investment policy on healthcare,which is not widely adopted by countries around the world. This forward-looking policy sends a strong positive signal to the international investment community,boosts confidence for investors keen on China's healthcare space and drives foreign investments and foreign-local collaborations given the growth prospects of China. The policy also further strengthens our commitment to our long-term strategy to build,own and operate more hospitals within our pipeline of integrated healthcare projects or healthcare-centric TODs."

Mr Pua further added,"Perennial General Hospital Tianjin will pave the way to draw more foreign patients seeking private medical treatments in Tianjin,thereby raising the country's medical industry's international standing and driving the growth of Tianjin's medical tourism industry. Further,Tianjin Government's all-rounded and highly efficient support across ministries throughout the rigorous approval process provides foreign companies with first-class service which is extremely conducive for businesses. We are confident of China's medical care market's growth trajectory and will actively foster foreign-local hospital collaboration and knowledge exchange as well as bring in foreign medical professionals and expertise to elevate the standards of private medical care to complement the government's public healthcare to benefit the community."

Perennial Holdings' portfolio of hospitals in China is growing steadily. Beyond the four hospitals totaling 1,300 beds in PIHBC Tianjin,there is a pipeline of over 3,000 beds being developed in the group's upcoming healthcare-centric developments in Kunming,Xi'an and Guangzhou.

About Perennial General HospitalTianjin

Perennial General Hospital Tianjin is China's first wholly foreign-owned private tertiary general hospital,following China government's announcement in September 2024 that fully foreign-owned hospitals will be allowed to operate in several key cities,including Beijing and Tianjin. The hospital is developed,owned,operated and managed by Perennial Holdings Private Limited ("Perennial Holdings").

Perennial General Hospital Tianjin is a 500-bed tertiary multi-disciplined hospital,developed and equipped at a total investment cost of RMB 1 billion and built in strict compliance with national standards. Located in the Xiqing district,Perennial General Hospital is part of the medical care component within the Perennial Tianjin South High-Speed Railway ("HSR") International Healthcare and Business City ("PIHBC Tianjin"). Adjacent to the Tianjin South HSR station,PIHBC Tianjin is China's first-of-its-kind integrated eldercare,medical care and hospitality HSR transit-oriented development.

Perennial General Hospital Tianjin's highly qualified specialist medical teams offer a comprehensive suite of medical disciplines,oncology and other fields. Its International Clinic also provides individualised medical care,including health maintenance and chronic disease management.

Perennial General Hospital Tianjin is designed as a patient-centric,one-stop medical and service hub where patients can seek multiple treatments and complete their course of care under one roof. The hospital offers multi-disciplinary consultations,a multilingual team and complete medical concierge services for a seamless patient experience.

Perennial General Hospital Tianjin features a unique asset-light co-medical space concept for doctors and medical groups where they focus solely on providing medical consultations and treatments without investing in medical facilities and services. Doctors and medical groups can instead rely on shared medical facilities and services provided and managed by Perennial Holdings. These include 12 advanced operating theatres,an extensive clinical laboratory and cutting-edge diagnostic imaging equipment,such as the GE 3.0T SIGNA Architect Air MRI and Revolution CT 256-Slice Scanner,providing physicians with precise diagnostic data,ensuring safe and reliable treatment for patients.

Designed by an award-winning global architectural design firm,Perennial General Hospital Tianjin's overall design theme incorporates Singapore's national flower,the orchid,to create a calming and garden-like environment. The hospital offers a variety of room options,including single-bed,double-bed,and triple-bed rooms. Each room is equipped with an adjoining bathroom to provide convenience and privacy to patients,aiding in their rest and recovery.

Perennial General Hospital Tianjin offers a wide range of payment options,including direct billing to various domestic and international insurance providers. The hospital has also partnered with the Bank of Tianjin to provide convenient bedside and point-of-care credit payment services.

The 500-bed Perennial General Hospital Tianjin,and the 300-bed Perennial Nursing Hospital Tianjin.

Perennial General Hospital Tianjin also supports the 1,800 seniors living in the Perennial Eldercare Community,PIHBC Tianjin is well-positioned to provide multi-faceted and holistic care to the community within the Xiqing District and the wider Beijing-Tianjin-Hebei region via the adjacent Tianjin South HSR Station's subway and HSR networks.

AboutPerennialHoldings Private Limited(www.perennialholdings.com)

Perennial Holdings Private Limited ("Perennial Holdings") is an integrated real estate and healthcare company headquartered in Singapore. As a real estate owner,developer and manager,Perennial Holdings focuses strategically on large-scale transit-oriented developments ("TODs") and has a presence in China,Singapore,Malaysia and Indonesia with a portfolio spanning approximately 80 million square feet in total gross floor area. As a healthcare services owner,operator and manager,Perennial Holdings focuses on hospitals and medical centres,healthcare hubs,and eldercare and senior housing. In China,it has a presence across 13 cities with over 23,000 beds,comprising about 13,000 operational beds and over 10,000 beds in the pipeline. In Singapore,it will operate the country's first private assisted living development with over 300 beds. Perennial Holdings' network of healthcare facilities includes general,rehabilitation and specialist hospitals,as well as assisted living apartments,eldercare and nursing homes,and its integrated eldercare services comprise medical,nursing,rehabilitation,dementia and home care.

Perennial Holdings' portfolio in China comprises five High Speed Railway ("HSR") TODs which are situated adjacent to five of the country's largest HSR stations. These include healthcare-centric HSR TODs with eldercare,medical care and hospitality components,namely Chengdu East HSR Integrated Development,Perennial International Healthcare and Business City (Tianjin South HSR Station),Perennial International Healthcare and Business City (Kunming South HSR Station) and Perennial International Healthcare and Business City (Xi'an North HSR Station),as well as one commercial-centric HSR TOD,being Hangzhou West HSR Integrated Development. Another landmark commercial TOD includes Beijing Tongzhou Integrated Development.

In Singapore,Perennial Holdings' portfolio comprises iconic properties,such as The Skywaters,Golden Mile Singapore,Capitol Singapore,CHIJMES,Perennial Business City and Caldecott Hill,located in the prime city and suburban districts near transportation hubs. It is also the developer and operator of Parry Assisted Living Care,a new housing-cum-care model development at Parry Avenue.

Issued by Perennial Holdings Private Limited (Company Registration: 200210338M)