The Singapore-based Luye Medical Group and US-headquartered Cleveland Clinic reach a cooperation deal on July 12 to co-build a hospital in Shanghai's Hongqiao Central Business District. [Photo/luyemedical.cn]

A new hospital, co-built by Singapore-based Luye Medical Group and world-renowned US-headquartered Cleveland Clinic, is set to be built in Shanghai's Hongqiao Central Business District, Luye Medical announced on July 12.

The hospital will work on improving clinical effects, apply high technology in complicated surgeries, and carry out patient-oriented medical services.

The newly announced to be built hospital is in line with the country's Healthy China 2030 strategy that encourages social capital to invest in the health care industry.

Tom Mihaljevic, CEO and president at Cleveland Clinic, speaks at a joint press conference announcing the construction of a new hospital with Luye Medical Group in Shanghai on July 12. [Photo/luyemedical.cn]

Tom Mihaljevic, CEO and president at Cleveland Clinic, said that its cooperation with Luye Medical is an honor and that only through constant innovation and cooperation can they bring positive effects on human health.

He also hoped that this cooperation will contribute to the development of Shanghai's health industry, and China's as a whole.

Liu Dianbo, chairman and president of Luye Life Sciences Group, parent company of Luye Medical, speaks at a joint press conference with Cleveland Clinic in Shanghai on July 12. [Photo/luyemedical.cn]

Liu Dianbo, chairman and president of Luye Life Sciences Group, parent company of Luye Medical, introduced at the press conference Luye Medical's goal of giving patients the best medical treatment, and said its cooperation with Cleveland Clinic will usher in world-class medical technology and services for Chinese patients.

Luye Medical Group now has more than 50 private medical institutions and nearly 10,000 employees in countries including Australia, Singapore, China, and New Zealand. It has also in recent years expanded its presence in China, now having locations in cities including Shanghai, Yantai, Chongqing, and Chengdu.

Cleveland Clinic, founded in 1921, has been committed to providing high-quality medical treatment for patients. It has made many medical breakthroughs, including the bypass operation of the coronary artery and America's first face transplant operation. It treats patients in 185 countries around the world.