Wanda to tap China's healthcare sector with US company UPMC

"It is the right project with vision," said Bruno Gridelli, executive vice-president of UPMC International. "Patients need and want the best healthcare…and they are willing to travel and spend their resources to make sure to get it."

"Setting up a network of private hospitals in China can keep Chinese patients in their own country and attract international patients who live in nearby countries," he said.

The latest step came as China has made healthcare reform a top priority in the past years and Chinese consumers have greater demand for personalized and high-end medical care services.

Wanda, whose business covers a wide range of industries including real estate, sports and entertainment, revealed its ambition to enter the healthcare sector back in 2016.

Its chairman Wang Jianlin also disclosed last year that the company will build a chain of hospitals in the future.