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.