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St. Stamford International Medical

St. Stamford International Medical ("St. Stamford") was established to own, develop and operate hospital and medical services in China by a 40-60 joint venture ("JV") between Perennial and Guangdong Boai Medical Group Co., Ltd ("Guangdong Boai"). Guangdong Boai is the subsidiary of China Boai Medical Group ("BOAI"), one of the largest private hospital and medical services operators in China.

The primary medical specialties that will be pursued by St. Stamford include Oncology, Fertility, Obstetrics and Gynaecology, Paediatrics, Plastic Surgery and Aesthetic Medicine, and Cardiology and Cardiovascular Surgery.

St. Stamford intends to grow its portfolio to over 20 hospital projects in China's first-tier and second-tier provincial capital cities. The JV enjoys access to Perennial's greenfield and/or completed integrated developments, and BOAI's existing portfolio of hospitals and future acquisition pipeline across China.

St. Stamford currently operates St. Stamford Modern Hospital, Guangzhou, one of the leading private cancer hospitals in Guangzhou and the first China-Singapore joint venture Joint Commission International-accredited hospital in China. St. Stamford will also be launching the upcoming St. Stamford Plastic Surgery and Aesthetic Hospital located at the Perennial International Health and Medical Hub in Chengdu, which is expected to commence operations in 4Q 2017.

Perennial owns an effective interest of 81.63% in St. Stamford.

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