Business Development Asia LLC
South East Asian Health News
ISSUE 3, OCTOBER 1997
MALAYSIA
Cigna International of the US is looking to increase its investment of both money and technological expertise in the Malaysian healthcare management sector. Cigna intends to retain a majority stake in Perdana Cigna Insurance, its JV with Malaysia's Advance Synergy. Perdana Cigna is the only Malaysian company selling insurance through direct marketing, rather than through agents. From January 1996 to June 1997, pre-tax profit was RM6.8m (US$2.3m). (September 2nd 1997)
Faber Medi-Serve, Radicare and Tongkah Medivest have been granted a 15-year concession to manage and monitor five support services. The three companies will form a consortium that will provide services for 100 Government hospitals and medical institutions. The services being privatized are clinical waste management, cleansing, engineering maintenance and bio-medical engineering. (September 1st 1997)
Hospital Pantai Mutiara, a private specialist hospital, plans to spend RM20m (US$6.8m) to upgrade its healthcare services by the year 2000. The hospital has proposed establishing radiotherapy, oncology, cardiology and senior care units. It has sought the services of Generidis, a French company with expertise in the field of radiotherapy. Hospital Pantai is the largest equity holder of Hospital Pantai Mutiara with 45%. Hospital Pantai also has interests in four other hospitals in Bangsar, Cheras, Ipoh and Klang. (September 5th 1997)
Johor Corporation, the leading franchiser in Malaysia, is planning to expand Pharmacare Medicine Shoppe by appointing more franchisees among Bumiputras. Currently, Pharmacare Medicine Shoppe has 45 pharmacies in Malaysia, Indonesia and Brunei. (September 8th 1997)
Radicare will complete construction of the RM530m (US$180m), 964-bed Selayang Hospital as scheduled, built on a turnkey basis. Radicare was in charge of the design and construction of the country's first paperless and filmless medical center. The hospital will be handed over to the Malaysian Government on August 25th, 1998. (September 20th 1997)
Tongkah Holdings is proposing to acquire all healthcare assets and businesses held by its associate company, Hospital Pantai, for RM190m (US$64m). Pantai will acquire 100% equity interest in Perdana Finance and will shift its focus to financial services. The hospitals will continue to carry the Pantai name. (September 12th 1997)
Recent News: Indonesia, Thailand, Philippines, Singapore, Vietnam, Regional Focus: Malaysia: an increasingly entrepreneurial health sector
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