March 22, 2018
Columbia Asia Group, one of the largest and fastest-growing healthcare companies in Asia, today announced that it has received additional equity investment of USD210 million, primarily from existing shareholders. The fresh funds will be used primarily to build new hospitals and deepen the level of specialty care in existing facilities.
Columbia Asia, owned by International Columbia US, LLC (ICU) and part of Seattle-based Columbia Pacific Management, has 29 hospitals and 2 clinics across Malaysia, India, Indonesia, Vietnam and Kenya, built with an innovative business model focused on serving Asia’s rapidly growing middle class. Columbia Asia facilities, with a wide array of specialised services, provide communities with accessibility to high value and modern efficient healthcare.
On the announcement, Dr. Kelvin Loh, Group Chief Executive Officer, Columbia Asia said: “We are excited and pleased to announce receipt of additional equity to further expand our business across the region and continue our journey to meet the accelerating demand for cost-effective, quality healthcare in Asia. Besides expanding our network and improving the quality of our services, we will also be investing in digital technologies to make care even more convenient and cost-effective, in order to serve more patients.”
“As of March this year, we have already added 342 new beds across our facilities in Malaysia, India and Indonesia. We will continue to pursue growth and we aim that by 2025, we will have more than 4,000 beds in the Asian region,” added Dr Loh.
Mr. Nate McLemore, Managing Director of Columbia Pacific Management which manages Columbia Asia, commented on the additional investment: “Columbia Asia is one of the fastest growing hospital companies in Asia and now Africa. We believe there is still much more growth potential in the markets we serve and are pleased that this additional investment will further accelerate that growth.”
Of the USD210 million in new investment, Tokyo-based Mitsui & Co., Ltd., a major healthcare investor in Asia, is contributing USD140 million. Mitsui, an existing equity shareholder in Columbia Asia, in 2016 invested USD101 million in the company to aid the group’s expansion across Asia and is now increasing its share.
Mr. Koji Nagatomi, Managing Officer and Chief Operating Officer, Healthcare & Service Business Unit of Mitsui & Co., Ltd. remarked, “Columbia Asia has proven its rapid growth since our first investment in July 2016. Through our additional investment, we believe Columbia Asia can further address the growing demand in the middle- and upper-middle-class populations in Asia. By increasing our shares, we expect Columbia Asia to become one of the main platforms integrated into our “Healthcare Ecosystem,” a sustainable system with better access to quality healthcare for all (patients).”
Columbia Asia strives to offer comprehensive value-added private healthcare services and make a positive difference to the lives of its patients and their families.