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ChinaCare Group Consulting Team Joins PricewaterhouseCoopers China

May 13, 2010

NEW YORK and SHANGHAI, May 13 /PRNewswire/ – The international healthcare consulting team of ChinaCare Group, led by David Wood, has joined PricewaterhouseCoopers China to guide the expansion of PricewaterhouseCoopers’s rapidly growing healthcare and life science consulting practice across China and Hong Kong. Mr. Wood, former president and senior partner of ChinaCare Group, and team members Dr. Xiaofeng Jia and Victor Chen, are now based in PricewaterhouseCoopers China’s Beijing office and will focus on consulting, development and management of domestic and international health organizations across the mainland and throughout the broader Asia region.

While at ChinaCare Group, the leading international healthcare consulting firm in China, the consulting team played a key role in the development of China’s healthcare marketplace. Clients have included leading public and private healthcare organizations in China and elsewhere around the world.

“The healthcare market in China is rising rapidly together with that in Asia,” said Dr. David Levy, global health leader at PricewaterhouseCoopers. “As one of the largest consulting organizations in the region, PwC’s healthcare team will participate in all the sectors of the healthcare industry, including pharmaceutical science, biotech, health insurance, hospital systems as well as government services. One of the ways to expand is to bring on talents like Mr. Wood’s team. The focused knowledge and experience of Mr. Wood and his team, in combination with the extensive capabilities of PricewaterhouseCoopers’ global network, strengthens our commitment to the China market and introduces global best practices to Chinese healthcare institutions and hospitals.”

Mr. Wood has been named managing director of healthcare services for PricewaterhouseCoopers China. He has over 30 years of international hospital administration and healthcare consulting experience. His consulting activity has included assisting clients in a variety of engagements all over the world including the United States, China, Germany, England, Canada and Gambia. He has served in senior management positions with the University of California hospital system as assistant director, the University of Colorado Hospitals as chief financial officer and director of hospital operations. His China experience is dated back to 10 years ago when he took the role of president of the first joint-venture hospital in China, and then president and chief executive officer of the New Century International Children’s Hospital in Beijing. He was the only foreigner serving as president of a Chinese hospital.

“I am excited to join PricewaterhouseCoopers China,” remarked Mr. Wood, managing director of healthcare services for PricewaterhouseCoopers China. “By adding the capabilities of PricewaterhouseCoopers’ global network of healthcare industry professionals to the deep experience, country knowledge and outstanding reputation we have cultivated while at ChinaCare Group, we will be able to better serve our clients by continuing to apply international practices and techniques in a way that respects the unique culture and the inherent value of the centuries-old practice of healthcare in Asia.”

Along with him, Mr. Wood has brought two of his team members to join PwC. Dr. Xiaofeng Jia is a licensed physician and surgeon, who attended medical school at the Capital University of Medical Sciences and completed his surgical residency at Beijing Chao Yang Hospital. He also has an MBA degree from the School of Economics and Management at Tsinghua University. Prior to joining The ChinaCare Group, Victor Chen served for seventeen years with a world leading medical equipment producer in a variety of management and marketing positions. Mr. Chen’s knowledge is focused on medical equipment planning and operational issues of hospital radiological management. While with The ChinaCare Group, Mr. Chen utilized his extensive network of hospital contacts throughout China to assist clients with product introduction and marketing of medical equipment.

A challenge that China’s incumbent healthcare system faces is the need to take care of a huge number of people with a relatively small budget. PwC’s observation is that the Chinese government’s determination to reform the healthcare system will tackle the unbalanced situation featured by large number of rural residents uncovered with insurance(700 million) and the high percentage of healthcare cost paid by patients (45 percent for the past 5 years on average).

“Globally there are emerging standards which include the new care delivery model revolutionalized by technology, personalized medication backed by genomic research and regulatory reforms,” added Dr. Levy. “These are areas where PwC has advantage and could introduce to clients in the China market.”

“China’s healthcare market is a unique and culture-sensitive one, where you cannot automatically copy models from developed countries. With our knowledge and experience about this market, we can bring international concepts and principles, and apply them in a culture-sensitive way.” supplemented Mr. Wood.

Currently the clients of PwC healthcare consulting service in China are a mixture of hospitals seeking international relation and financing, pharmaceutical science companies, medical device companies, as well as multinationals, health insurers and health-related consumer goods producers who aim to enter the China market.

More information on the PricewaterhouseCoopers healthcare practice can be found at http://www.pwc.com/gx/en/healthcare/index.jhtml.

About PricewaterhouseCoopers
PricewaterhouseCoopers (http://www.pwc.com) provides industry-focused assurance, tax and advisory services to build public trust and enhance value for its clients and their stakeholders. More than 163,000 people in 151 countries across our network share their thinking, experience and solutions to develop fresh perspectives and practical advice.

“PricewaterhouseCoopers” and “PwC” refer to the network of member firms of PricewaterhouseCoopers International Limited (PwCIL). Each member firm is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way. No member firm is responsible or liable for the acts or omissions of any other member firm nor can it control the exercise of another member firm’s professional judgment or bind another member firm or PwCIL in any way.

© 2010 PricewaterhouseCoopers LLP. All rights reserved

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