KUCHING: Pantai Holdings (IHH Healthcare Malaysia) has acquired Timberland Medical Centre (TMC) along with adjacent vacant land in central Kuching.
The deal, worth RM245 million, was concluded on a cash-free, debt-free basis, marking a notable expansion of its healthcare services in East Malaysia.
Jean-François Naa, the chief executive officer (CEO) of IHH Healthcare Malaysia, said this acquisition addresses the rising demand for healthcare services.
“The increasing patient numbers necessitate an expansion of our capacity and reach. Timberland Medical Centre, celebrated for its 30-year legacy and strong brand in Kuching, ideally aligns with our objectives. This is our first acquisition in Sarawak, and we are committed to leveraging our healthcare network to improve services and patient care in the area,” he said in a statement.
Plans are underway for the development of a new 200-bed tertiary hospital in central Kuching, aimed at enhancing Timberland’s operations and to accommodate local healthcare needs while also attracting medical tourists from Indonesia.
“Our strategy includes scaling up Timberland’s operations through the establishment of a new 200-bed tertiary hospital, positioned to meet both local healthcare demands and the burgeoning medical tourism market from Indonesia,” he added.
TMC currently provides a comprehensive suite of medical and surgical services, such as cardiology, nephrology, oncology, gastroenterology, general and orthopaedic surgery, hepatology, and urology.
IHH Healthcare Malaysia is recognised as one of Malaysia’s leading private healthcare providers, boasting a network that includes 11 Pantai Hospitals, four Gleneagles Hospitals, the Prince Court Medical Centre, and now, Timberland Medical Centre.
