Mitsui invests US$101mil in Columbia Asia

  • Business
  • Wednesday, 27 Jul 2016

The logo of the Japanese trading company Mitsui & Co. is seen in Tokyo, Japan, May 10, 2016. REUTERS/Toru Hanai

KUALA LUMPUR: Tokyo-based Mitsui & Co Ltd has invested US$101mil (RM412.4mil) in Columbia Asia, one of the largest and fastest-growing healthcare companies in Asia, to expand its hospital business.

In a joint statement on Wednesday, Mitsui said it saw tremendous growth potential in Columbia Asia. 

“It is the only healthcare provider in Asia to operate hospitals in so many countries under a single brand.

“It is also one of the few large, multinational providers in Asia to build the vast majority of its hospitals itself,” it said.

As part of its investment, Mitsui said, it would gain two seats on the Columbia Asia’s board of directors and play a role in company’s operations.

Apart from Columbia Asia, the major healthcare investor in Asia also expressed interest in establishing partnerships with other healthcare companies, including IHH HEALTHCARE BHD, the largest healthcare company in Asia.

Meanwhile, Columbia Asia said it would use the investment to continue expanding its network of hospitals across Asia, including several current development projects. 

“In addition, we will open our first facility in Africa next month, which is a multi-specialty clinic located in Nairobi, Kenya under a new brand, Columbia Africa,” it said.

Currently, Columbia Asia, as part of Seattle-based Columbia Pacific Management, has 27 hospitals and one clinic in India, Malaysia, Vietnam and Indonesia.

It has 10,000 employees serving more than 2.5 million patients annually. - Bernama

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