KUCHING: Timberland Medical Centre (TMC) has earmarked a site here for the development of a new 200-bed hospital.
This follows the log, stock and barrel acquisition of TMC – including its shareholders and nine founding doctors – by Pantai Holdings Sdn Bhd, an indirect wholly-owned subsidiary of IHH Healthcare for RM245 million.
TMC co-founder and board director Dr Tiong Tung Hui in a statement issued yesterday (Aug 10) highlighted the positive impact of the acquisition on the hospital’s growth trajectory.
“We are pleased that IHH Healthcare has decided to acquire TMC and help scale its operations with the new hospital.
“The new hospital will be larger and equipped with more comprehensive facilities to meet the expected growth in medical tourism of Sarawak.
“With the expansion, we see a timely opportunity to tap IHH Healthcare’s expertise to further expand into new sub-specialties and attract leading doctors, further reinforcing TMC’s leadership in Sarawak’s medical tourism market,” he said.
The acquisition was planned to align with TMC’s 30th anniversary next year and is expected to be completed by the first half of 2024.
