(MENAFNEditorial) Columbia Asia Receives Additional Equity Investment Of USD210 Million
KUALA
LUMPUR, MALAYSIA - Media OutReach - March 22, 2018 - Columbia Asia Group , one of the largest and fastest-growing
healthcare companies in Asia, today announced that it has received additional equity
investment of USD210 million, primarily from existing shareholders. The fresh
funds will be used primarily to build new hospitals and deepen the level of
specialty care in existing facilities.
Columbia Asia, owned by
International Columbia US, LLC (ICU) and part of Seattle-based Columbia Pacific
Management, has 29 hospitals and 2 clinics across Malaysia, India, Indonesia, Vietnam
and Kenya, built with an innovative business model focused on serving Asia's
rapidly growing middle class. Columbia
Asia facilities, with a wide array of specialised services, provide communities with accessibility
to high value and modern efficient healthcare.
On the announcement, Dr. Kelvin
Loh, Group Chief Executive Officer, Columbia Asia said: "We are excited and
pleased to announce receipt of additional equity to further expand our business
across the region and continue our journey to meet the accelerating demand for
cost-effective, quality healthcare in Asia. Besides expanding our network and
improving the quality of our services, we will also be investing in digital
technologies to make care even more convenient and cost-effective, in order to
serve more patients."
"As of March this year, we have
already added 342 new beds across our facilities in Malaysia, India and
Indonesia. We will continue to pursue growth and we aim that by 2025, we will
have more than 4,000 beds in the Asian region," added Dr Loh.
Mr. Nate McLemore, Managing
Director of Columbia Pacific Management which manages Columbia Asia, commented
on the additional investment: "Columbia Asia is one of the fastest growing
hospital companies in Asia and now Africa.
We believe there is still much more growth potential in the markets we
serve and are pleased that this additional investment will further accelerate
that growth."
Of the USD210 million
in new investment, Tokyo-based Mitsui & Co., Ltd., a major healthcare
investor in Asia, is contributing USD140 million. Mitsui, an existing equity
shareholder in Columbia Asia, in 2016 invested USD101 million in the company to aid the group's expansion
across Asia and is now increasing its share.
Mr. Koji Nagatomi, Managing
Officer and Chief Operating Officer, Healthcare & Service Business Unit of
Mitsui & Co., Ltd. remarked, "Columbia Asia has proven its rapid growth
since our first investment in July 2016. Through our additional investment, we
believe Columbia Asia can further address the growing demand in the middle- and
upper-middle-class populations in Asia. By increasing our shares, we expect
Columbia Asia to become one of the main platforms integrated into our
"Healthcare Ecosystem," a sustainable system with better access to quality
healthcare for all (patients)."
Columbia Asia strives to offer
comprehensive value-added private healthcare services and make a positive
difference to the lives of its patients and their families.
About Columbia Asia International
private healthcare company, Columbia Asia Healthcare Sdn Bhd, is owned by a
US-based investment fund, International Columbia US, LLC (ICU). On a wider outlook, Columbia Asia Group is
owned by more than 150 private equity companies, fund management organizations
and individual investors. Columbia Asia currently has 12 medical facilities in
Malaysia, 12 in India, 3 in Vietnam, 3 in Indonesia and 1 in Kenya. Its
hospitals aim to be the preferred choice of healthcare services for families
and businesses. With no more than 200 beds per medical facility, it leverages
modern technology to provide efficient specialised care and reduce hospital
stay. In turn, this results in more cost-effective, quality care for patients.
The hospitals of Columbia Asia provide a wide array of specialised services
from General Surgery, Paediatrics, Obstetrics & Gynaecology, Orthopaedics,
Internal Medicine to Oncology, Cardiology, Neuro surgery, Bariatric surgery and
more. These are supported by a
comprehensive list of ancillary services that include an Intensive Care Unit,
Neonatal Care Unit, Physiotherapy, Laboratory, Pharmacy and Imaging. At Columbia Asia, comprehensive medical
programmes demand ethics, excellence and strict clinical governance. All of its
operations follow international quality assurance guidelines that meet the
highest standard of patient care possible.
About Columbia Pacific Management
Columbia Pacific Management
(CPM), based in Seattle, oversees an international healthcare business that
develops and operates hospitals, clinics and senior housing in Asia. With
locations in China, India, Indonesia, Kenya, Malaysia and Vietnam, CPM's
operating companies provide healthcare and senior care services in markets
making up more than half the world's population. All of these countries have
rapidly aging populations, rising middle- and upper-middle-class populations,
an under-supply of quality healthcare and senior care facilities, and
increasing rates of non-communicable diseases such as diabetes, cancer and
cardiac diseases -- creating an unprecedented demand for world-class healthcare
services and senior housing. The company's affiliates include Columbia Asia,
operating hospitals in India, Southeast Asia and Kenya; Columbia China, which
is building a network of hospitals and clinics in China; Cascade Healthcare, a
subsidiary of Columbia China that operates senior care facilities; and Remote
Medical International, which provides medical services and supplies to
challenging locations around the globe.
About
Mitsui & Co., Ltd
Mitsui & Co., Ltd is one of the most diversified and
comprehensive trading, investment and service enterprises in the world, with
138 offices in 65 countries, as well as about 420 subsidiaries and associated
companies worldwide. Utilizing the global operating locations, network and
information resources, Mitsui is multilaterally pursuing business that ranges
from product sales, worldwide logistics and financing, through to the
development of major international infrastructure and other projects in the
following fields: Iron & Steel Products, Mineral & Metal Resources,
Infrastructure Projects, Integrated Transportation Systems, Chemicals, Energy,
Food, Food & Retail Management, Healthcare & Service, Consumer
Business, IT & Communication Business, Corporate Development Business.
Mitsui is actively taking on challenges for global business innovation around
the world.
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