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.
|SOURCE Sunnylife Global, Inc.|
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