Insurance firms Manulife and Bupa have signed a memorandum of understanding (MoU) to collaborate on the delivery of healthcare in Hong Kong.

The collaboration is intended to provide customers in the city with a “more robust, integrated healthcare network”, offering them “greater convenience and flexibility in managing their health”.

The MoU will see the two firms collaborate on the creation of more integrated healthcare solutions and personal support services.

“This strategic collaboration marks a significant milestone in our ambition to be the health partner of choice, driving better value and health outcomes for our customers,” said Patrick Graham, CEO of Manulife Hong Kong and Macau. “By combining our strengths with Bupa, this strategic collaboration will offer greater choice and sustainable healthcare solutions that empower individuals and communities to live healthier and more fulfilling lives. This also underscores our commitment to addressing the needs of a society with a rapidly ageing population, and shaping a future where healthcare is more accessible and affordable.”

Fiona Harris, Managing Director of Bupa Hong Kong, added: “Collaborations are more important than ever as we work together to deliver the connected healthcare ecosystem that enables each consumer to achieve their best health outcome. By joining forces, we can reach more of the people of Hong Kong, introducing new innovations and creating more opportunities through embracing the era of digital health and AI.”

In a statement, the two companies said that they would continue to share further updates “in due course” on how the collaboration evolves.

Bupa announced plans to acquire London’s King Edward VII’s Hospital earlier this year.