MEDIA RELEASE
15 October 2015 | FOR IMMEDIATE RELEASE
IHH HEALTHCARE ENTERS INTO LEASE TO OPERATE NEW HOSPITAL IN WESTERN CHINA - Joint venture to lease and operate 350-bed hospital in Chengdu subject to regulatory approvals - Facility spearheads IHH’s entry into tertiary segment in Western China, with its rapidly growing demand for private healthcare
KUALA LUMPUR, 15 October 2015 - IHH Healthcare Berhad (“IHH” or the “Group”), through its indirect wholly owned subsidiary, M & P Investments Pte Ltd (“M&P”), and its local Chinese partner, Shanghai Broad Ocean Investments Co. Ltd (“Broad Ocean”), have entered into a lease agreement today with Perennial Real Estate Holdings Limited (“Perennial”). Under the agreement, M&P and Broad Ocean will, through their joint venture company, lease a space of at least 48,000 square metres in net leasable area at Perennial International Health and Medical Hub in Chengdu, China, to operate a 350-bed tertiary hospital.
The lease is subject to M&P and Broad Ocean obtaining the necessary government and regulatory approvals to establish a joint venture company to operate the hospital.
The new ParkwayHealth Chengdu Hospital will be IHH’s first tertiary facility in Western China, under its largest operating subsidiary Parkway Pantai Limited (“Parkway Pantai”). This multi-disciplinary hospital is located in Perennial International Health and Medical Hub, which is part of Perennial’s Chengdu East High Speed Railway Integrated Development and is expected to open in the second half of 2017. The hospital will offer specialised care and services such as obstetrics & gynaecology, paediatrics, cardiology, orthopaedics, ophthalmology and internal medicine.
Dr Tan See Leng, Managing Director & Chief Executive Officer of IHH and Group Chief Executive Officer & Managing Director of Parkway Pantai, said, “We are excited to work with Broad Ocean to bring our track record of delivering superior clinical outcomes to Chengdu. ParkwayHealth Chengdu Hospital further spearheads our growth into the tertiary segment in China, and allows us to move up the value chain in a key growth market for us. Its strategic location will also allow us to tap into demand for quality healthcare in the rapidly growing western region. This is another significant step towards becoming a leading international healthcare provider in Greater China and Hong Kong.”
The new hospital complements IHH’s existing presence in Mainland China, where the Group already operates 11 medical centres – including one in Chengdu. IHH also operates another medical centre in Hong Kong, and is constructing the 500-bed
Gleneagles Hong Kong Hospital, which is on track to open in early 2017. Chengdu is the fastest growing city in Western China with an expanding local middle class and expatriate community. Upon completion, ParkwayHealth Chengdu Hospital will serve a total population catchment of 148 million residents in Chengdu and other cities in Sichuan and West China.
For further information or to speak to an IHH spokesperson, please contact:
Penelope Koh Josephine Chew t. +65 6307 7881 t. +65 9061 0353 e. [email protected] e. [email protected]
About IHH Healthcare Berhad (“IHH”) IHH Healthcare Berhad is a leading premium healthcare provider in markets where the demand for quality care is strong and growing. We are the second largest healthcare group in the world by market capitalisation and are listed on the Main Market of Bursa Malaysia and Main Board of SGX-ST.
Our companies offer the full spectrum of integrated healthcare services from clinics to hospitals to quaternary care and a wide range of ancillary services including medical education. We are the leading player in our home markets of Singapore, Malaysia and Turkey, and key markets of the People’s Republic of China (PRC), Hong Kong and India. We are also present in Vietnam, Brunei, the UAE, Macedonia and Iraq.
We employ more than 25,000 people and operate over 7,000 licensed beds across 40 hospitals worldwide. Our “Mount Elizabeth”, “Gleneagles”, “Pantai” and “Acibadem” brands are among the most prestigious in Asia and Central and Eastern Europe, with a growing presence in the Middle East and North Africa. For more information, please visit www.ihhhealthcare.com.
About Parkway Pantai Limited (“Parkway Pantai”) Parkway Pantai Limited, part of IHH Healthcare Berhad, is one of the region's largest integrated private healthcare groups with a network of 23 hospitals and more than 5,000 beds throughout Asia, including Singapore, Malaysia, Brunei, India, China, United Arab Emirates and Vietnam. By 2017, Parkway Pantai will have about 2,000 additional beds from opening three new hospitals and expanding capacity in its existing hospitals.
In Singapore, the Group operates a suite of Singapore's premier private hospitals: Mount Elizabeth Novena Hospital, Mount Elizabeth Hospital, Gleneagles Hospital and Parkway East Hospital - all accredited by Joint Commission International (JCI). It also owns Parkway Shenton, a large network of primary healthcare clinics and services, ParkwayHealth Radiology and ParkwayHealth Laboratory.
In Malaysia, the Group owns and operates ten Pantai Hospitals, three Gleneagles Hospitals and ancillary healthcare services including Pantai Integrated Rehab and Pantai Premier Pathology.
Parkway Pantai Limited also operates more than 20 patient assistance centres across the globe, providing patients with seamless patient care and a one-stop referral source to its hospitals and services. For more information, please visit the website at www.parkwaypantai.com.