China medical services market to hit $500b

China needs to bolster its medical services and investors are ready to help, Bloomberg reported.

The latest is Carlyle Group LP-backed Concord Medical Services Holdings Ltd, which last week completed a deal for a 52 percent stake in Chang'an Hospital, a 1,000-bed facility at the eastern end of the Silk Road, according to Bloomberg.

Other investors in China include Kuala Lumpur-based IHH Healthcare Bhd, Asia's biggest hospital operator, which plans to build a hospital in Shanghai, to add to seven clinics it owns in Shanghai and one in Chengdu, Bloomberg reported.

China's medical services market is growing 18 percent annually and projected to reach 3.16 trillion ($500 billion) in 2015, Bloomberg reported citing accountancy firm Deloitte China.