Will Muxin Hall, Backed by杏香园's Medical Expertise, Become a Benchmark in Real Estate-Based Wellness?

In early October 2018, Muxintang, a health and wellness center under the Xingxiangyuan brand, officially opened its doors.

Muxintang, located in Anji County, Huzhou, Zhejiang Province, is a key component of the supporting facilities for the Peach Blossom Spring Town developed by Greentown Real Estate. The establishment of Muxintang results from the new round of cooperation between Xingxiangyuan and Greentown Real Estate. It not only enhances the health and wellness features of the Peach Blossom Spring Town in Anji but also marks the official launch of a new real estate-based health and wellness service system within Xingxiangyuan’s health management business segment.

Unlike its previous strategy of expanding into various medical sub-sectors to form independent business subsets, Xingxiangyuan’s real estate and health-care ecosystem is regarded as the culmination of its existing medical resources. Muxintang, focusing on health and wellness services, integrates all business segments of Xingxiangyuan to provide customized, full-lifecycle health management for high-net-worth individuals.

Let us begin with a brief review of the development history of Xingxiangyuan.

In April 2015, cardiovascular specialist Shen Farong founded Xingxiangyuan, positioning it as an assistant and platform for physicians’ entrepreneurial ventures, with the aim of addressing the pain point of information asymmetry between doctors and practice locations. Two years prior, Shen had left the public healthcare system to join Zhejiang Greentown Cardiovascular Hospital, serving as its president and director of the Heart Center. In July 2015, Xingxiangyuan secured angel-round financing in the tens of millions of RMB. That December, Yinian Health, Xingxiangyuan’s premium health management platform, also raised angel-round funding in the tens of millions of RMB. The following June, Xingxiangyuan completed a Series A financing round worth hundreds of millions of RMB.

To date, Xingxiangyuan has established a strategic layout centered on “Physician Groups + Health Management.” Under its Physician Groups division, the company operates ten specialty physician groups covering areas such as pain management, cardiovascular care, maternal and child health, and oncology. The Health Management division is positioned to provide comprehensive health management across the entire life cycle, encompassing postpartum care centers, maternal and infant health management, premium health services, and chronic disease management. Beyond its core businesses, Xingxiangyuan collaborates with functional institutions—including health insurers, technology companies, and offline hospitals—to build a continuously improving support ecosystem.

The newly added real estate and health-care segment falls under the umbrella of health management and serves as a sub-segment of the high-end health management division. Xingxiangyuan began planning this business in early 2018. From the outset, Xingxiangyuan positioned Muxintang as a pioneer model for implementing integrated medical and elderly care services within small-town settings in China. Furthermore, viewed from the broader perspective of Xingxiangyuan’s overall business portfolio, its foray into health and elderly care services represents a strategic breakthrough in innovating its business model.

Anji Peach Blossom Spring is poetic, elegant, tranquil, and leisurely, embodying Greentown Real Estate’s Oriental vision for urban living. Nestled within this setting, Muxin Tang pursues truth, goodness, and aesthetic perfection. According to Shen Danping, President of Hangzhou Xingxiang Garden, the newly launched Muxin Tang is a health and wellness project developed by Xingxiang Garden in integration with the town culture of Anji Peach Blossom Spring, featuring medical care as its hallmark and cultural tourism as its platform.

Xingxiangyuan boasts a vast pool of medical resources and delivers full-lifecycle health management to high-net-worth individuals through a family doctor model. By extending its reach into real estate-based health and elderly care, Xingxiangyuan is strategically targeting the property acquisition demands of high-net-worth individuals in specialized towns. Currently, this demographic is increasingly inclined to purchase properties specifically for vacation and recuperation purposes.

Unlike residential and commercial real estate, which primarily serve people’s essential needs, town-style real estate mostly caters to secondary homebuyers. Developers do not need to prioritize commuting convenience when planning such projects, allowing them to select sites in remote suburban areas far from densely populated zones. This approach enables developers to control land costs while ensuring a relatively favorable ecological environment. However, the flip side is that town-style properties suffer from high vacancy rates, which undoubtedly intensifies operational management challenges and cash flow pressures for developers. Consequently, developers have attempted to boost foot traffic by introducing various distinctive industries, with health and wellness integration being one of their consistently effective strategies.

As a third-party health and elderly care service provider in the real estate sector, Xingxiangyuan entered the market at a time when China’s health and elderly care service industry had yet to establish standardized norms, nor had any high-quality, reliable companies emerged. Leveraging its early accumulation of medical resources and expertise-backed credibility, Xingxiangyuan can be regarded as an entrant with inherent first-mover advantages.

Muxintang spans an area of 1,100 square meters and houses a town community clinic, a health management center, a sports facility, a traditional Chinese medicine (TCM) therapy center, and a health promotion center. It integrates a wide range of services, including medical examination report interpretation, personalized health management, dynamic personal health records, medical care assurance, genetic testing, daily chronic disease management, telemedicine, international diagnosis and treatment, TCM therapy, and featured health-themed activities.

Inside Muxintang

Shen Danping explained to VCBeat the design philosophy behind Xingxiangyuan’s development of Muxintang.

From the outset, Xingxiang Yuan clearly defined two categories of target clients for Muxin Tang. The first category comprises property owners in the town, who typically reside there on a long-term basis, either intermittently or continuously, and thus tend to seek a comprehensive service continuum ranging from basic to premium offerings. The second category consists of cultural and leisure tourists, whose stays may vary in length but generally do not exceed one week; therefore, short-term wellness retreats with distinctive features hold greater appeal for them.

At Muxintang, Health and Wellness Services for Category I ClientsBuilt upon the medical resources of Xingxiang Garden, it is divided intoBasic Services Segment and Upgraded Services Segment. Within the Basic Services Segment, Xingxiangyuan has established a community clinic for Muxintang to address the daily medical treatment needs of the town’s residents. Meanwhile, Xingxiangyuan leverages its health management business unit to provide Muxintang clients with “4-to-1” personalized care, assigning a dedicated health assistant, clinical nutritionist, family physician, and fitness consultant to each individual, thereby delivering more targeted, continuous health management for the town’s residents.In the upgraded services segment, Xingxiangyuan leverages its global network of high-quality medical resources across Asia, Europe, and North America to provide overseas medical services to Muxintang clients. For instance, Xingxiangyuan can arrange for Muxintang clients to travel to Japan for screening of early-stage cancer and other chronic diseases, or to seek medical treatment in countries such as Japan and Singapore. These services utilize advanced genetic testing and medical technologies for the treatment of rare diseases. Additionally, Xingxiangyuan can facilitate exclusive remote consultations with specialists from prestigious international hospitals for Muxintang clients facing critical illnesses.

Inside Muxintang

The health and wellness services tailored for the second category of clients represent Xingxiangyuan’s most significant innovation at Muxintang. Building upon its traditional rehabilitation system, Xingxiangyuan has innovatively designed a variety of themed activities embedded with cultural tourism elements for visitors to Muxintang. These themed activities are customized based on the different origins of cultural tourists, whom Xingxiangyuan further categorizes into C-end (consumer) and B-end (business) clients. C-end clients primarily consist of individual travelers taking day trips to the town. In light of their specific characteristics, Xingxiangyuan provides single-item health and wellness services. B-end clients refer to corporate groups, mainly comprising senior executives whose travel purpose is predominantly recuperation and retreat. They typically stay in the town for about one week. For B-end clients, Xingxiangyuan’s service approach involves planning themed programs, such as weight management, cardiopulmonary function enhancement, and blood glucose management. During these themed activities, health assistants are assigned to provide follow-up services, integrating individual users into Xingxiangyuan’s health and wellness ecosystem. Based on each client’s physical characteristics, Xingxiangyuan flexibly combines its service offerings to create hundreds of personalized health management plans.

Shen Danping told VCBeat that a key feature of the Xingxiangyuan real estate health and wellness system is its holistic nature. Its true advantage lies in the comprehensive medical and physician resources behind Xingxiangyuan, leveraging synergies across business segments to present a unified external front. This is also the most significant differentiator between Xingxiangyuan’s real estate health and wellness model and other health and wellness service providers.

Shen Danping stated that Muxintang has been forging ahead by benchmarking against advanced international projects, distinguishing itself from existing wellness initiatives through its emphasis on robust medical services. “Xingxiangyuan Real Estate Wellness will continue to strive toward becoming a benchmark in the wellness industry.”

From the perspective of VCBeat, the essence of Xingxiangyuan’s real estate-based health and elderly care business lies in bundling its various business segments for external outreach. By collaborating with developers, Xingxiangyuan can integrate its health management services into diverse types of industrial real estate projects. Therefore, if Xingxiangyuan achieves its established goals through Muxintang, it will be easy to replicate this success in other real estate projects. The most significant constraint in this process, however, may be the geographic limitations of Xingxiangyuan’s operations.

When VCBeat raised the question of whether Xingxiangyuan could expand its business nationwide by leveraging its health and wellness segment, Shen Danping told reporters that Xingxiangyuan had already established medical resources in many regions beyond the Yangtze River Delta. Previously, Xingxiangyuan’s national operations were highly fragmented, and its pace of scaling was relatively slow. After integrating the real estate-backed health and wellness segment, Xingxiangyuan has been able to extend its overall business reach to other provinces by implementing its health and wellness system within real estate projects across China.

“However, healthcare has always been the core of Xingxiangyuan. The ability of Xingxiangyuan’s medical resources to transcend geographical boundaries will also drive the nationwide development of its health and wellness sector,” Shen Danping emphasized in conclusion. “Healthcare and wellness are mutually reinforcing.”