KUALA LUMPUR: IHH Healthcare Bhd (IHH) is set to enhance Timberland Medical Centre's operations with the construction of a new 200-bed tertiary hospital in central Kuching, Sarawak.
Through its indirect wholly-owned unit Pantai Holdings Sdn Bhd (IHH Healthcare Malaysia), IHH has recently completed the acquisition of Timberland Medical Centre and the associated vacant land for a total of RM245 million.
The acquisition was finalised through a share purchase agreement between IHH Healthcare Malaysia and Saravita Holdings Sdn Bhd, along with nine individual founders, for the entire equity in Bedrock Healthcare Sdn Bhd in August 2023.
Bedrock Healthcare owns Timberland Medical Centre and has designated the vacant land for the development of the new hospital.
Timberland Medical Centre, which has been operating for almost 30 years, is an 82-bed private medical centre.
Jean-François Naa, chief executive officer of IHH Healthcare Malaysia, expressed enthusiasm about the acquisition, stating that it enables the company to expand its portfolio of quality healthcare services in East Malaysia.
He highlighted the significance of the new 200-bed hospital in meeting local healthcare demands and tapping into the growing medical tourism sector in Indonesia.
Naa emphasised the strategic advantage of the region's proximity to Indonesia, citing direct and cost-effective flight connections between the two countries.
He underscored Timberland Medical Centre's 30-year legacy in Kuching and its strong brand presence as pivotal factors in fulfilling the company's healthcare objectives.
IHH Healthcare Malaysia has been operating in East Malaysia since 2015, with the establishment of Gleneagles Hospital Kota Kinabalu. Presently, its healthcare network comprises 11 Pantai Hospitals, four Gleneagles Hospitals, Prince Court Medical Centre, and Timberland Medical Centre.