HCA co-founder Dr. Thomas Frist Jr. is making what is likely to be a trend-setting (misguided?) move. Dr. Frist is investing in a new venture, China Healthcare Corp., which is focused on bringing U.S. hospital management practices to Chinese facilities.
China Healthcare will kick off its operations by building and operating a 500- to 600-bed hospital in Shanghai. The startup will be run by Dr. Frist’s son-in-law, Chuck Elcan, a former executive with a real estate investment trust focused on medical office buildings.
HCA standards for hospital development and management in China? Wow.
Ok, maybe not a “wow” but certain a “really?” I’m not at all thrilled by companies touting their resident expertise in one market and trying to implement them into another market. And as these good people should know, China isn’t like just any “other market.”
Perhaps Dr. Frist and Mr. Elcan can spend some quality time with someone like Roberta Lipson, CEO of Chindex. (See our interview with Ms. Lipson in the PHM Emerging Markets Healthcare Monitor Vol. 1-No. 6 issue.)
Early signs of success: how long Dr. Frist and Mr. Elcan stay in Shanghai………….HK