Business Development Asia LLC
South East Asian Health News
ISSUE 4, DECEMBER 1997
SINGAPORE
AsiaMedic, a new medical specialty company, is aiming to become a leader in specialty care in the region. AsiaMedic is building a US$5m specialty care center in Singapore, but expects to use existing hospital facilities for the immediate future. Malaysian healthcare firm, Hospital Pantai, owns a 7.2% stake in AsiaMedic. (January 30th 1998)
Guardian Pharmacy, Singapore's largest pharmacy chain, will invest US$6m to revamp the franchise. The company plans to double the number of regional outlets to about 300 within two years. The Jardine Group holds 70% of Guardian's equity in Singapore, Malaysia, Indonesia and Brunei, with the remainder owned by Jardine affiliate Cycle & Carriage. (January 20th 1998)
Johns Hopkins Medicine has signed a memorandum of understanding with The National University Hospital, The National Science and Technology Board and The National University of Singapore to establish a company, Johns Hopkins Singapore, to provide research, education and healthcare services. At the center of the agreement is the establishment of a private hospital. The hospital, scheduled to open by 2001, will focus on cardiovascular diseases and cancer and is intended to become the hub of a regional network. (January 21st 1998)
MediMedia Asia, a medical media firm, has launched Health Online, a provider of Internet health services. Health Online aims to put people's medical records on the Internet for Singapore doctors to access using smart cards. Another service provided will enable customers to buy drugs over the Internet from CyberPharm, Health Online's virtual pharmacy which involves partners Guardian and Apex. Insurance firm NTUC Income will offer Health Online to its 800,000 policyholders. (January 7th 1998)
Parkway Holdings, the hospital operator, will make a provision of US$10m-US$12m against its 1997 earnings for unrealized losses on its share portfolio due to the declines in the Singapore and Malaysian stock markets. The provision represents about one quarter of Parkway's 1996 net profit of US$48m. (January 27th 1998)
Parkway Holdings has hired McKinsey & Co to conduct a three month review of the non-clinical operations of its three hospitals. Proposals for streamlining operations will be implemented over the next four to five years. The region's economic turmoil and a 5% to 8% decline in hospital admissions prompted the company to undertake the study. (January 26th 1998)
Specialist Eyecare, a new regional eyecare chain, has opened its first store in Great World City. Almost half of the space in the US$2m store is filled by an eye clinic. The chain plans to open three more shops in the Orchard/Marina area and in the suburbs. Over the next few years, the company hopes to open outlets in cities throughout South East Asia. (January 26th 1998)
Recent News: Indonesia, Malaysia, Thailand, Philippines, Vietnam, Regional Focus: The Future of Managed Care in South East Asia
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