Wanda, University of Pittsburgh Medical Center formalize deal for $870m hospital in Chengdu

Chinese conglomerate Dalian Wanda Group had formally signed an operational agreement to develop a high-end hospital in partnership with the University of Pittsburgh Medical Centre in Chengdu, in China’s southwestern Sichuan province.

Construction work on the RMB 6 billion ($870 million) project started late last year, and it is part of a framework agreement with the U.S. healthcare provider for the development of general hospitals in five top-tier Chinese cities.

Another RMB 6 billion ($870 million) hospital is to be built by Wanda and co-operated by Wanda and UPMC, in Guangzhou.