Wednesday, 13 March 2013

IHH Healthcare subsidiary in RM2b Hong Kong private hospital project

KUALA LUMPUR: IHH Healthcare Bhd's subsidiary is undertaking a RM2bil private hospital project in Wong Chuk Hang, Hong Kong which will have 500 beds.

It said on Wednesday its 60% owned GHK Hospital Ltd would undertake the project involving a capital investment of about HK$5bil (RM2bil).

IHH said this included land cost for the acquisition of the site amounting to HK$1.688bil (RM675.41mil).

"The said capital investment, including land cost, will be funded by internally generated funds and bank borrowings, the breakdown of which has yet to be determined at this juncture," it said.

GHK is a 60%-owned subsidiary of Parkway HK Holdings Ltd while Media Year Investments Ltd owns the remaining 40%.

IHH said the site would be fully developed for hospital use in late 2016 when the hospital starts operations.

“The hospital will provide a full range of clinical service with more than 15 specialties, including general medicine, general surgery, orthopaedics, and gynaecology, and others, with a total bed capacity of 500 beds,” it said.

IHH said the Li Ka Shing Faculty of Medicine of The University of Hong Kong would be the clinical partner of the hospital and oversee its clinical governance, professional standards, appointment of doctors and the training of doctors, nurses and allied healthcare staff. 

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