SHARES of OUE Healthcare : 5WA 0%, previously known as OUE Lippo Healthcare, hit an 11-month high on Tuesday (May 16) amid heavy trading following news of its new hospital commissioning in Changshu in eastern China’s Jiangsu province.

The counter rose as much as 46 per cent during the morning trading session to S$0.038 as at 9.04 am. The last time the counter closed near this level was in June 2022.

By the midday trading break, OUE Healthcare was the second most traded by volume, with 34.6 million shares changing hands. Its shares were up 15.4 per cent or S$0.004 to S$0.03 at the time.

Following the mid-day break, the counter advanced another S$0.001 to hit S$0.031, up 19.2 per cent or S$0.005 from the previous day’s close. The counter ended the trading session at that price.

On Monday, OUE Healthcare launched its new hospital in Changshu – a joint venture with China Merchant Group. The 50:50 joint venture with the Hong Kong-based state-owned conglomerate was first announced in 2020.

The hospital was officially commissioned by Koh Poh Koon, Singapore’s Senior Minister of State for Manpower, and also for Sustainability and the Environment, and Suzhou mayor Wu Qingwen.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

The 100-bed hospital is the first private obstetrics and gynaecology (O&G) hospital to be commissioned in the city, targeting the well-to-do. On top of O&G, the hospital will provide paediatric and other related medical services, OUE Healthcare said.

It spans 23,000 square metres in total gross floor area and houses a confinement centre with 27 suites for post-partum rehabilitative services. Additionally, it provides other ancillary medical services, such as medical aesthetics.