On January 2, 2020, Peking Union Medical Foundation (PUMF) and Guangzhou Silver Mountain Equity Investment Co., Ltd., a subsidiary of Silver Mountain Group (SMG), held a signing ceremony in Beijing to establish UNION-FUND. Jiang Yuxin, President of PUMF, and Stefan Matzinger, co-founder of SMG, attended the ceremony.

According to Professor Long Xiao, who is in charge of UNION-FUND, such fund will initially focus on the development of customer relationship management (CRM) system in relation to consumer-oriented medical care, as well as promotion of medical service innovation and translational medicine. Based on this, both parties will work together in other areas as well.

PUMF was founded in 2008 by Peking Union Medical College Hospital. PUMF grants fund for public welfare activities for health care and medical research such as teaching, scientific research, academic exchange, issuing awards, and introduction of advanced technology and equipment. SMG focuses on healthcare sector in China. SMG has established partnerships with top medical institutions from the United States and Europe and has successfully established two international hospitals in Shanghai and Guangzhou respectively.