Econ Healthcare (Asia) has, on June 11, entered into a shareholders’ agreement in relation to the establishment of a nursing home in China, its second one in the country.

The agreement was signed with Chongqing Guangda Bailingbang Eldercare Industry Group Co (Bailingbang) and Chongqing Mengxiangjia Technology Co (Mengxiangjia), the same joint venture partners for Econ Healthcare’s first nursing home, ECON Medicare Centre and Nursing Home at Chongqing Jiefangbei.

Under the agreement, Econ Healthcare, Bailingbang and Mengziangjia will hold 70%, 20% and 10% stakes in the joint venture entity, Changshou Yikang Bailingbangyanjia. 

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