12/18/2010

Raffles Medical's China plans

SINGAPORE health-care services firm Raffles Medical is prepared to invest S$200 million to S$300 million to build a hospital in China, to tap into the growing medical needs of the world's most populous nation, its chairman said.

Raffles, which has already opened a medical centre in Shanghai, may set up a general hospital with a few areas of excellence - such as cancer treatment, cardiology and fertility - in a "gateway city" like Shanghai, Beijing, Shenzhen or Guangzhou.

"We are looking for possibilities - site, permission - to invest in an international hospital in China with at least 300 beds," chairman Loo Choon Yong told Reuters in an interview.

Dr Loo said Raffles may enter a joint venture or make its own investment with a mix of internal cash, debt and equity, but he qualified that it must be economically feasible for the firm. He added that it may take around three years to build a hospital from the time the firm finds a suitable plot of land in China, and it may recruit 100 to 200 doctors, who will be a mix of Singaporeans, Chinese and other nationalities.

Back home in Singapore, Raffles aims to invest around S$12.5 million to increase its number of general-practice, dental and specialist clinics to 100, from the current 75, in the next three years using the firm's internal resources, said Dr Loo. By 2013, Raffles aims to complete the expansion of Raffles Hospital, the group's flagship, adding 102,408 sq ft of space that will boost the current floor area by one third, Dr Loo said.

Read more at asiaone news

Dec 18, 2010 3:08:00 PM | Current Affairs, Health, Medicine

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