IHH Healthcare Malaysia Signs MoU with Pelaburan Hartanah Berhad for New Medical Block

KUALA LUMPUR,  24 JANUARY 2024 - Pantai Medical Centre Sdn Bhd (“IHH Healthcare Malaysia”) today signed a Memorandum of Understanding (“MOU”) with Pelaburan Hartanah Berhad (“PHB”) for the development of a new medical block adjacent to current Gleneagles Hospital Kuala Lumpur complex, to be leased from PHB for an initial period of 20 years. Post-expansion, Gleneagles Hospital Kuala Lumpur will enter a new phase of growth and is on track to be one of the largest private hospitals in Malaysia by 2027, with over 700 beds.

Jean-François Naa, Chief Executive Officer of IHH Healthcare Malaysia said, “In line with IHH Healthcare Malaysia’s organic growth strategy to expand the availability of quality healthcare across our network, we are strengthening Gleneagles Hospital Kuala Lumpur’s position as one of the leading private healthcare providers in Malaysia. This will enable us to deliver exceptional care to meet the growing demands of local patients and medical tourists.”

IHH is one of the largest private healthcare providers in Malaysia, with approximately 3,000 beds. Our healthcare network comprises 11 Pantai Hospitals, 4 Gleneagles Hospitals and Prince Court Medical Centre, complemented by ancillary services including Pantai Integrated Rehab and Premier Integrated Labs, and a chain of primary care clinics under Twin Towers Medical Centre.

The new purpose-built medical block for Gleneagles Hospital Kuala Lumpur, to be completed by 2027, is envisioned to encompass 470,000 square feet gross floor area with over 260 beds, subject to regulatory approvals. It will be equipped with state-of-the-art facilities aimed at providing patients with highly specialised care in emerging sub-specialties such as micro and hand, foot and ankle, spine surgeries. It is also specifically designed with a high allocation of single beds to meet rising demand for individualised patient care.

In line with IHH’s commitment to uphold Environmental, Social, Governance (“ESG”), the new medical block is expected to incorporate green building features for better energy efficiency and indoor environment quality.

Mohamad Damshal Awang Damit, the Group Managing Director/ Chief Executive Officer of PHB, emphasised that the longstanding collaboration with Gleneagles Hospital Kuala Lumpur since 2011 reflects PHB’s commitment to fostering economic growth through property investment. With the aim of achieving a RM25 billion asset portfolio by 2030, PHB is strategically rebalancing its investments in healthcare, industrial sectors, K-12 schools and data centres to ensure sustainable income. PHB is also dedicated to providing added value as a monetisation and financial partner, enabling our collaborators to concentrate on their core business, while efficiently allocating their capital towards primary operations.

Posted January  24, 2024 In Media Release 2024

Level 6, Block E, Dataran PHB, Saujana Resort, Section U2, 40150 Shah Alam, Selangor Darul Ehsan, Malaysia.

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