AsianScientist (Oct. 27, 2016) – Healthcare provider Columbia Pacific Management is partnering with Singapore-based investment company Temasek on a joint venture to provide China’s growing middle-class population with affordable, patient-centered care across a spectrum of healthcare and senior services.
Temasek is investing about US$250 million in Columbia China, the China healthcare arm of Seattle’s Columbia Pacific Management, which will result in a 50/50 joint venture with Columbia Pacific.
Columbia China currently has a 220-bed orthopedic hospital, two multi-specialty clinics and three senior living facilities in Shanghai and Beijing. The company is also developing three multi-specialty hospitals of 300-500 beds in Wuxi, Jiaxing and Changzhou, as well as a 300-bed senior living facility in Ningbo and a growing pipeline of other projects across China.
The partnership with Temasek will enable Columbia China to further expand in China through acquisitions and greenfield projects.
Columbia Pacific Management’s expansion in China is similar to the network of hospitals the company owns in India and Southeast Asia through another affiliate, Columbia Asia. Columbia Asia opened its first hospital in Malaysia in 1996 and over two decades has developed one of the largest hospital companies in Asia, with 27 hospitals and two clinics delivering high-quality, affordable and standardized care.
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Source: Columbia Pacific Management; Photo: Pixabay.
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