IHH Healthcare Group’s Pantai Holdings Sdn Bhd has completed its acquisition of the entity that owns Timberland Medical Centre and earmarked vacant land in central Kuching for the construction of a 200-bed tertiary hospital for a total consideration of RM245 million on a cash free debt free basis.
The group said the acquisition allows IHH Healthcare Malaysia to expand its range of quality healthcare offerings in East Malaysia. Jean-François Naa, Chief Executive Officer of IHH Healthcare Malaysia, said, “As our patient numbers grow, we recognise the need to enhance our capacity and reach to better serve them. 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.”
“In the near future, we intend 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,” Naa 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.
The group already has footprint in East Malaysia with the establishment of Gleneagles Hospital Kota Kinabalu.
