He said the company, which currently operates a 200-bed hospital, was aiming for a five-fold growth in the number of beds to 1,100 beds, expected to be ready in stages after 2020.
“The new extension block to the existing Tropicana Medical Centre hospital in Kota Damansara, Petaling Jaya, which is slated to be ready by end-2020, will have 400 beds.
“In Johor Baru, assuming we get the approval from the authority, the Iskandariah Hospital will have 500 beds upon completion after a tentatively five-year construction period,” he told a media briefing in conjunction with the announcement of TMC’s results for financial year ended Aug 31, 2017 (FY17) on Thursday.
For FY17, the company’s pre-tax profit rose to RM27.14mil from RM21.59mil in FY16, while revenue increased 15% to RM151.70mil in FY17 from RM131.40mil previously, based on its filing with Bursa Malaysia on Thursday.
Quek said the group’s brownfield expansion project costing RM300mil, occupying one-third of the company’s existing six hectares (ha) land in Kota Damansara, had received the building plan approval from the local council and was expected to commence construction by end-2017.
“It is crucial for the group to continue its growth trajectory as the additional capacity will be able to support physical constraint,” he said.
Meanwhile, the Iskandariah Hospital, which is planned to be developed under the proposed Vantage Bay Healthcare City on land belonging to TMC’s largest shareholder, Singaporean billionaire Peter Lim via his Singapore-listed real estate firm Rowsley Ltd, will cost RM1.2bil.
Besides the Iskandariah Hospital, the proposed RM5bil medical hub, Vantage Bay Healthcare City, sprawled over 11ha in Johor Baru will also comprise a health sciences education platform and wellness hub.
“We are hoping to secure the approval from the Health Ministry for the project in Johor by the first quarter of next year,” said Quek.
He added the group is currently taking measures to maintain its growth trajectory pace such as ramping up marketing efforts to boost medical tourism.
TMC has six fertility treatment centres in Peninsular Malaysia and is planning to open a new branch in Sabah and Sarawak. - Bernama
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