OUE Lippo Healthcare (OUELH), unit of Indonesian conglomeration firm Lippo Group and China Merchants Group (CMG) has entered into an agreement with China Changjiang National Shipping Group Co., to establish a joint venture will operate its first hospital in Shanghai, the company said in a statement on Tuesday (July 3).

Lippo now has one hospital and 10 clinics in China, 12 hospitals in Japan, four hospitals in Myanmar,100 clinics combined in Singapore and in Vietnam.

Under the agreement, the company with CMG will hold a 51% stake in the multi-million dollar new joint venture company. The Shanghai Changhang Hospital, which is currently managed by Changjiang is located in the Pudong New District area of Shanghai.