PANTAI Holdings Sdn Bhd (IHH Healthcare Malaysia), indirect wholly owned subsidiary of IHH Healthcare Berhad has recently completed its acquisition of the entity that owns Timberland Medical Centre.
This is in addition to the earmarked vacant land in central Kuching for the construction of a 200-bed tertiary hospital for a total consideration of RM245 mil on a cash-free debt-free basis.
This acquisition allows IHH Healthcare Malaysia to expand its range of quality healthcare offerings in East Malaysia.
“As our patient numbers grow, we recognise the need to enhance our capacity and reach to better serve them,” commented IHH Healthcare Malaysia CEO Jean-François Naa in a statement on Friday (March 8).
“Timberland Medical Centre, with its 30-year legacy in Kuching and strong brand presence, is an ideal healthcare institution to fulfil this purpose.
“With the acquisition of Timberland Medical Centre and expansion into Sarawak, we will be preparing for the future, while ensuring a quality healthcare experience for all our patients, here and now.”
Naa noted that in the near future, the company intends to further scale up Timberland’s operations via a new 200-bed tertiary hospital to be constructed in central Kuching to serve local needs, in addition to catering to the growing medical tourism market from Indonesia.
“Our geographical proximity to Indonesia makes us an ideal healthcare destination, with direct and affordable flights available between our countries,” he added.
Timberland Medical Centre currently offers a wide range of medical and surgical services including cardiology, nephrology, oncology, gastroenterology, general surgery, orthopaedic surgery, hepatology surgery, orthopaedic and urology.
IHH Healthcare Malaysia has been present in East Malaysia since 2015 with the establishment of Gleneagles Hospital Kota Kinabalu.
It is one of the largest private healthcare providers in Malaysia, with a healthcare network of 11 Pantai Hospitals, four Gleneagles Hospitals, Prince Court Medical Centre and now, Timberland Medical Centre. – March 8, 2024
Main pic credit: IHH Healthcare
