At the outset of the New Year, Tahoe took a key step in its strategy in the high-end healthcare sector. On the evening of January 6,Tahoe Investment Group Co.Limited (hereinafter referred to as Tahoe Investment Group) and Weill Cornell Medicine, a leading medical school in the United States (hereinafter referred to as WCM) signed a strategic cooperation agreement in Shanghai.The two sides will work together to develop a first-class international hospital in Yangpu District in Shanghai.Tahoe Investment Group Chairman Huang Qisen and WCM Dean Augustine Choi, MD, Vice Dean Michael Stewart, MD.attended the signing ceremony.

　　In accordance with the agreement, WCM will assist in the development of Tahoe Shanghai International Hospital,includingthe project concept, business plan, and facility planning, etc. “The value proposition of the hospital is to be a patient-centered facility with the highest quality medical services reflective of WCM standards.The hospital will address the comprehensive needs of the local market and will be a world-class medical center with aleading health information system and Chinese characteristics.” a Tahoe Investment Group spokesperson elaborated.

　　Weill Cornell Medicine, the medical schoolof an Ivy League school Cornell University, is one of the foremost US teaching institutions, focusing on trainingmedical personnel. Weill Cornell Medicine is committed to excellence in patient care, scientific discovery and the education of future physicians in New York City and around the world. The doctors and scientists of Weill Cornell Medicine are committed to world-class clinical care and cutting-edge research that connect patients to the latest treatment innovations and prevention strategies. Its main teaching hospital, New York Presbyterian Hospital, trains more than 1900 residents and fellows per year. The New York Presbyterian Hospital,headquartered in New York, is one of the United States’ largest and most comprehensive major hospitals, which ranks in the top three for cardiology and cardiac surgery, and ranks in the top five for neurology, neurosurgery in the United States. New York Presbyterian Hospital has more than 2 million patient visits each year.

　　The Tahoe Shanghai International Hospital chosen site is located in a National Innovation areain Yangpu District, which has a large population of highly educated high tech professionals and expats. Compared with Huangpu, Xuhui and Changning Districts, Yangpu has yet to establish international hospitals. Existing private hospitals are challenged to meet the regional development goal and high-end medical needs due to its limited clinical expertise, scale and the variety of clinical specialties. There is a need for an international hospital to help elevate regional value for local residents.
　　At the signing ceremony, the two parties stated that the Tahoe Shanghai International Hospital will leverage Weill Cornell Medicine expertise in operational management and clinical excellence, to be aleading example of international collaboration in the Shanghai Healthcare Reform. WeillCornell Medicine will be strategically positioned in Shanghai, as its cornerstone project, for its China market expansion. In addition, this strategic partnership will explore international training programs for healthcare professionals, with the aim to improve the overall service quality of Chinese healthcare providers.
　　Notably, Tahoewasreported in the news a number of times this year for its foray into the healthcare space. After the acquisition of Alliance Healthcare, a Nasdaq-listed leading US provider of outsourced radiology, oncology and interventional services, Tahoe partnered with PHI to establish an international hospital in Beijing. Currently, this hospital is listed as one of the major government projects in theTongzhou area and approved by the National Development and Reform Commission. In addition, Tahoe acquired Bejing Yuho Rehabilitation Hospital and a hospital management company in Chengdu.