Sunnylife Global Announces Completion of Surgical Wing of Xiang Tan World Friendship Hospital
January 29 2008 - 10:00AM
PR Newswire (US)
SURGICAL WING OPENED JANUARY 15, 2008 LOS ANGELES, Jan. 29
/PRNewswire-FirstCall/ -- Sunnylife Global, Inc. (Pink Sheets:
SNYL) announced today that, on January 8, 2008, the renovation of
Xiang Tan World Friendship Hospital was officially completed and
approved by the Xiang Tan City Government. Under the management of
Sunnylife Global, Inc. and hospital staff, the Xiang Tan World
Friendship Hospital was renovated in accordance with international
standards. On January 15, 2008, all in-patients of the surgery
department as well as those in the gynecological and obstetrical
department were transferred to the new building. The surgical
building comprises 126 movable hospital beds and four sterile
operating rooms that are the most advanced in Hunan Province. The
surgery building features dependable elevators, a central
air-conditioning system, a central oxygen supply system, an
intensive care unit, and networked computerized environmental
controls. With its esthetically pleasing environment and ability to
handle surgical procedures in a timely manner, this surgery
building becomes one of the best in Xiang Tan City. The Hunan
Government and its national capital committee have provided their
full support for this important project. Under the sponsorship,
guidance, and support of Sunnylife Global, Inc., Xiang Tan World
Friendship Hospital is well on its way to becoming one of the best
hospitals in Hunan Province. This project also represents a new
paradigm in cooperation between the China and the U.S. in the field
of healthcare. About Sunnylife Global Sunnylife Global, Inc. is the
only foreign company authorized by the PRC central government to
acquire, control, and operate existing Level 2 private hospitals in
the PRC. To date, the Company has concluded 21 Letters of Intent
relating to such hospitals, nine of which have moved to the
contract stage or beyond. All of the nine have been fully approved
by the requisite departments of the local, regional, and central
governments. Renovation and modernization of two of the nine has
been started and is at varying stages of completion. This program,
aimed at creating a hospital chain or network, is part of the PRC's
initiative to upgrade their Level 2 hospitals (those with 250-500
beds, of which there are more than 10,000 in the PRC) to
international standards. The Company is arranging the financing for
the renovation of the first two hospitals. Hospitals owned and
managed by Sunnylife will derive their revenues principally from a
health-care plan known as a Healthcare Management System (similar
to an HMO). Each HMS typically has about 50,000 members and
receives fees of $375 - $425 per member per year. Enrollment has
begun. Because they function within a more predictable cost
environment (i.e., professionals, support staff, pharmaceuticals,
insurance, etc.), hospitals within the PRC typically have higher
operating margins than hospitals in the West. The Company has plans
to build and operate several assisted-living centers, each
providing for the needs of approximately 3,000 people. The PRC
government has committed to contributing the real estate required
for these assisted-living facilities. The initial two plots have
been designated, each of which covers 82 acres. Financing for
construction of the first assisted- living facility has been
committed. More than 46,000 people have pre-applied for the first
assisted-living facility. The assisted-care industry in the PRC is
expected to grow to one of the largest industries in the world over
the next 20 years. The above news release contains forward-looking
statements. These statements are based on assumptions that
management believes are reasonable based on currently available
information, and include statements regarding the intent, belief or
current expectations of the Company and its management. Prospective
investors are cautioned that any such forward-looking statements
are not guarantees of future performance, and are subject to a wide
range of business risks, external factors and uncertainties. Actual
results may differ materially from those indicated by such
forward-looking statements. For additional information, please
consult the Company's most recent public filings and 10-K. The
Company assumes no obligation to update the information contained
in this press release, whether as a result of new information,
future events or otherwise. DATASOURCE: Sunnylife Global, Inc.
CONTACT: Bill Kraus, or Lisa Baker, or Devon Blaine, all of The
Blaine Group, , +1-310-360-1499, fax, +1-310-360-1498
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