April 25, 2024 saw the grand opening of the first China Senior Care Industry Forum hosted by Caixin Media in Beijing. Bringing together government and regulatory authorities, senior care and health institutions, financial institutions, industry associations as well as renowned experts and scholars, the forum was held under the theme of "Navigating New Changes, Uncovering New Opportunities". It conducted in-depth planning for the elderly care cause and industry, with a focused attention on the new opportunities brought about by the development of the silver economy.
Distinguished guests including Lou Jiwei, Standing Committee Member of the 13th National Committee of the Chinese People's Political Consultative Conference (CPPCC), Director of its Foreign Affairs Committee and Former Minister of Finance; Li Wei, Vice Chairman of the China Economic and Social Council, Director of the Population, Resources and Environment Committee of the 13th CPPCC National Committee, as well as Former Director and Research Fellow of the Development Research Center of the State Council; and Zhou Yanli, Member of the Economic Committee of the 13th CPPCC National Committee, Former Deputy Secretary of the Party Committee and Vice Chairman of the China Insurance Regulatory Commission (CIRC), attended the forum.
Nathaniel Farouz (Gao Tianli), Managing Director of Sindora, the senior care business arm of Keppel – Singapore’s flagship multinational corporation, was invited to the second roundtable discussion of the forum, where he shared his unique insights on the topic of Senior Care Industry: New Track, New Business Models./span>
This roundtable was moderated by Yang Zheyu, Editorial Director of Caixin Weekly and Editor-in-Chief of Caixin’s China Reform. It brought together a distinguished group of leading practitioners, authoritative experts and scholars in the senior care industry, including: Dang Junwu, Deputy Director of the China National Research Center on Aging; Liang Wannian, Executive Vice Dean and Vanke Chair Professor at the Vanke School of Public Health, Tsinghua University; Yang Yansui, Professor at the School of Public Policy and Management and Director of the Center for Employment and Social Security Research, Tsinghua University; Hui Rutai, Consultant Expert at Fuwai Hospital, Chinese Academy of Medical Sciences; and Qiu Jianwei, Member of the Management Committee of Taikang Insurance Group and Chief Executive Officer of Taikang Community.
Nathaniel Farouz (Gao Tianli), Managing Director of Sindora, the senior care business arm of Keppel (First from the right)
During the roundtable discussion, as a seasoned professional with over a decade of in-depth experience in China’s senior care market and a contributor to the development and operation of thousands of senior care beds across the country, Nathaniel Farouz (Gao Tianli) emphasized that listening to and understanding the needs of senior care users is pivotal to the success of operational management. In his view, there is no one-size-fits-all senior care solution for all elderly people, and every senior care operator and investor should conduct thorough research into and gain a clear understanding of their target service groups.
Why would people assume that seniors in their 60s and centenarians expect the same services? Yet I believe their needs vary greatly at each stage of life. Therefore, it is crucial to build personalized senior care services, which requires fully taking into account market segmentation and the differentiation of user needs.
Sindora has pioneered the new model of Empowerment-oriented Senior Care, which focuses on helping seniors achieve their personal goals, provides personalized care and daily living support, and prioritizes seniors’ autonomy, agency and existing capabilities. Its first high-quality empowerment-oriented senior care facility – Sindora Nanjing Qixia International Senior Living Community – was completed and launched earlier this year, and has garnered wide recognition from numerous seniors and their families.
At Sindora, it is not our care team that tells our seniors what to do, but the seniors who inform our team where they want to go and what plans and goals they aim to achieve. Following a comprehensive and refined assessment and in-depth discussions on their life goals, we develop tailored individual care and life plans for each senior, covering medical care, nursing, rehabilitation, nutrition, activities, social engagement and more. Through an empowering approach, we help them fulfill their life plans and personal goals, and make this journey a joyful one!
Sindora Nanjing Qixia International Senior Living Community Lobby
Nathaniel Farouz (Gao Tianli) also shared another signature program of Sindora – the Healthy Longevity Program, which the company is jointly developing in partnership with experts from the National University of Singapore (NUS).
This new initiative co-created with the international academic community will help understand how to maximize healthy life expectancy, develop targeted intervention strategies, and enhance overall quality of life.
AI should make senior care more human-centric.
When asked about the impact of artificial intelligence (AI) on senior care services, Nathaniel Farouz (Gao Tianli) stated that: the ultimate goal of AI should be to alleviate or automate tasks unrelated to seniors’ care, enabling caregivers and family members to have more time to interact with and provide services for seniors, and allowing seniors to fully enjoy the pleasure of human interaction and social engagement. AI should never replace the natural interaction between staff and seniors. Furthermore, some studies have shown that AI has the potential to help residents maintain a higher level of autonomy for a longer period of time. In addition, AI is elevating the quality management and risk management capabilities of senior care operators, and in the future, it will help predict and prevent risks before they occur.
Nathaniel Farouz (Gao Tianli), Managing Director of Sindora Living under Keppel's Senior Care Business
Sindora's independently developed intelligent operation and management system leverages technologies such as artificial intelligence (AI) and the Internet of Things (IoT). It enables more effective monitoring of the implementation of care and life plans, and provides data support for the refinement of individual care plans. Sindora's facilities are equipped with a full suite of smart devices that collect IoT data and integrate with the intelligent system for risk monitoring and early warning. For example, a millimeter-wave radar is installed in every room at Sindora, which can issue early warnings for sudden incidents like falls involving seniors in their rooms, providing round-the-clock safety protection.
Nathaniel Farouz (Gao Tianli) concluded in his closing remarks that, given Sindora's unique market positioning, our goal is not to compete with insurance companies or real estate developers, but to carve out our own differentiated niche. Thanks to its philosophy of Empowerment-oriented Senior Care, as well as its world-leading services in intelligent rehabilitation and dementia care, Sindora stands out prominently in China’s current senior care market. Meanwhile, by leveraging the robust capabilities of its parent company Keppel—a global asset management and operation entity—in fund investment management and operations, Sindora is well-positioned to serve as a powerful partner for investors looking to enter the senior care industry.
Finally, he extended an invitation to the participants to visit Sindora's Nanjing facility, to gain a deeper understanding of how Sindora puts its Empowerment-oriented Senior Care philosophy into practice and engage in in-depth discussions on potential collaboration.
We see ourselves as partners, not competitors. We can deliver solid fund and asset management capabilities to partners interested in the senior care industry, along with one-stop solutions for high-quality senior care operations.
Regarding Sindora’s Nanjing Facility:
Sindora Nanjing Qixia International Senior Living Community is situated in the core area of Yanziji New Town, adjacent to the Muyan Riverside Scenic Area and boasting picturesque scenery. Surrounded by Grade A tertiary hospitals, parks, schools, and commercial and recreational facilities, it creates an interactive experience of intergenerational integration, truly enabling the seniors in Nanjing to live away from their original homes yet never feel disconnected from their beloved ones. In terms of layout and design, the facility draws on the essence of Singapore’s Garden City concept, holds the LEED Gold certification for green buildings and features more than 100 age-friendly design elements, forging a lush, healthy and livable living environment for seniors. Adhering to the world-leading concept of Lifestyle Medicine, Sindora provides a variety of non-pharmacological adjunctive therapies and rehabilitation training, focuses on the full-cycle management of chronic geriatric diseases and functional impairments, and develops a tailored individual care plan for each senior.
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