Union Bridge Holdings Signs Letter of Intent with Shenyang Shenhe Yixi Home Care Service Center to develop and operate elderly care facilities in…
Union Bridge Holdings Signs Letter of Intent with
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Shenyang Yixi operates 12 community elderly day-care centers (elderly day-care centers or activity centers) and a district home-care service center (a home-based elderly care center to provide service to the elderly at home) in, which are owned by the government.
Shenyang Yixi has rented a building in
The parties estimate that the total remaining construction cost and rental expenses to be paid for the nursing care facility will be approximately
Shenyang Yixi would be responsible for the operation of the JV's nursing care facility.
Shenyang Yixi also agreed to contribute the business of the 12 community elderly day-care centers and the district home-care service center that it operates to the JV. Shenyang Yixi also expects that the JV may be granted by the government the right to operate at least 15 additional elderly day-care centers in
The parties intend to conduct due diligence over a 60-day period and will endeavor to enter into a definitive agreement for the JV within 30 days after that.
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