Parkway Pantai, Ltd. is a

medical Medicine is the science and practice of caring for a patient, managing the diagnosis, prognosis, prevention, treatment, palliation of their injury or disease, and promoting their health. Medicine encompasses a variety of health care practic ...

company based in

Singapore Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...

and is

Southeast Asia Southeast Asia, also spelled South East Asia and South-East Asia, and also known as Southeastern Asia, South-eastern Asia or SEA, is the geographical United Nations geoscheme for Asia#South-eastern Asia, south-eastern region of Asia, consistin ...

's largest private

healthcare Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health profe ...

provider, and one of the largest in

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an area ...

. It is a wholly owned subsidiary of

Kuala Lumpur , anthem = '' Maju dan Sejahtera'' , image_map = , map_caption = , pushpin_map = Malaysia#Southeast Asia#Asia , pushpin_map_caption = , coordinates = , su ...

-based

IHH Healthcare IHH Healthcare Berhad () is an international private healthcare group focused on upmarket health services, and is Asia's largest private healthcare group. It offers a full spectrum of integrated healthcare services from clinics to hospitals to ...

, whose largest shareholder is Malaysian state investment agency

Khazanah Nasional Khazanah Nasional Berhad is the sovereign wealth fund of the Government of Malaysia, entrusted with growing the nation's long-term wealth via distinct commercial and strategic objectives. Khazanah's commercial objective is to grow financial as ...

. Parkway Pantai operates private hospitals in

Brunei Brunei ( , ), formally Brunei Darussalam ( ms, Negara Brunei Darussalam, Jawi alphabet, Jawi: , ), is a country located on the north coast of the island of Borneo in Southeast Asia. Apart from its South China Sea coast, it is completely sur ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's most populous country, with a population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and ...

Hong Kong Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( abbr. Hong Kong SAR or HKSAR), is a city and special administrative region of China on the eastern Pearl River Delt ...

Malaysia Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...

India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the seventh-largest country by area, the second-most populous country, and the most populous democracy in the world. Bounded by the Indian Ocean on the so ...

Vietnam Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...

and the

United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia (The Middle East). It is located at th ...

. IHH Healthcare also owns the

International Medical University The International Medical University (IMU) is a private, English language, health sciences university in Kuala Lumpur, Malaysia. It was established in 1992, and is active in research and teaching within medicine and healthcare with a strong int ...

. In July 2017, According to the reports, Parkway Pantai issued a US$2 billion multicurrency bond to refinance its debts.

Parkway Pantai

Parkway Pantai owns a network of 21 hospitals, including four private

hospitals in Singapore The following is a list of hospitals in Singapore registered by the Ministry of Health. Acute hospitals Community hospitals Psychiatric hospital Upcoming hospitals *New hospital in Bedok North *Woodlands Health Campus Defunct hospitals ...

and more than 60 medical centres, clinics, and ancillary healthcare facilities in Singapore, Hong Kong, Malaysia, India and China. It also has a network of regional hospitals in

and

, including

Jerudong Park Medical Centre Jerudong Park Medical Centre (, Abbrev: ') is a private hospital in Brunei-Muara District, Brunei Darussalam which mainly provides specialized healthcare services. It is located in Jerudong, some 20 kilometres from Bandar Seri Begawan. The hospit ...

. A number of health-tourism providers work with Parkway Pantai's hospitals to develop

medical tourism Medical tourism refers to people traveling abroad to obtain medical treatment. In the past, this usually referred to those who traveled from less-developed countries to major medical centers in highly developed countries for treatment unavailable a ...

. It has more than 4,000 licensed beds in aggregate. The Group's other healthcare network in Singapore includes Parkway Shenton Pte Ltd, one of Singapore's biggest general practices; ParkwayHealth Radiology, a leading radiology service provider; and ParkwayHealth Laboratory, a major provider of laboratory services locally. Some of Parkway's hospitals are subjected to

international healthcare accreditation Due to the near-universal desire for safe and good quality healthcare, there is a growing interest in international healthcare accreditation. Providing healthcare, especially of an adequate standard, is a complex and challenging process. Healthcar ...

, while others are not.

Hospitals

Parkway East Hospital Parkway East Hospital is a 143-bed private healthcare facility located at the junction of Joo Chiat Place and Telok Kurau Road in the East of Singapore. It was formerly known as East Shore Hospital or East Shore Medical Centre, The American Hospi ...

Gleneagles Hospital Gleneagles Hospital is a private hospital on Napier Road, Singapore next to Napier MRT station. It provides medical and surgical services. It is part of Parkway Pantai, itself a subsidiary of the Malaysian–Singaporean private healthcare group ...

Mount Elizabeth Hospital Mount Elizabeth Hospital, known colloquially as Mount E, is a 345-bed private hospital in Singapore operated by Parkway Health. Construction began in 1976 and the hospital officially opened on 8 December 1979. The hospital specialises in cardi ...

Mount Elizabeth Novena Hospital Mount Elizabeth Novena Hospital, is a 333-bed healthcare facility in Singapore that opened on 2 July 2012. It is owned by Parkway Health Parkway Pantai, Ltd. is a medical company based in Singapore and is Southeast Asia's largest private health ...

Gleneagles Kuala Lumpur Gleneagles Hospital Kuala Lumpur (GKL) (previously known as Gleneagles Intan Medical Centre) is a private hospital in Kuala Lumpur, Malaysia. The hospital was funded in 1996, and commenced its operations on 1 August 1996. GKL is a subsidiary of P ...

* Gleneagles Penang *Gleneagles Kota Kinabalu *Gleneagles Medini * Gleneagles Hong Kong *Pantai Hospital Ampang *Pantai Hospital Ayer Keroh *Pantai Hospital Batu Pahat *Pantai Hospital Cheras *Pantai Hospital Ipoh *Pantai Hospital Klang *Pantai Hospital Kuala Lumpur *Pantai Hospital Manjung *

Pantai Hospital Penang Established in 1997, Pantai Hospital Penang (formerly known as Hospital Pantai Mutiara) is a 190 bedded specialist hospital in the satellite town of Bayan Baru Bayan Baru is a town in the Malaysian state of Penang. It is located within the Sout ...

*Pantai Hospital Sungai Petani *Gleneagles JPMC *Gleneagles Global Health City, Chennai *Gleneagles Global Hospitals, Bengaluru *Gleneagles Global Hospitals, Hyderabad *Apollo Gleneagles Hospital *Shanghai International Medical Center

History

On 14 September 2005, Singapore's Parkway Holdings Ltd acquired a 31 per cent stake in Pantai Holdings Bhd for RM312 million (US$82.8 million) to emerge as the largest shareholder of the leading private health-care service provider in Malaysia. Analysts said the move by Parkway, South-east Asia's largest healthcare provider, may spark consolidation in private hospitals in Malaysia. On Tuesday, Parkway purchased 89.7 million shares, for a 22.5 per cent stake, from Pantai's chief executive officer, Datuk Lim Tong Yong, for RM2.45 each at a 50 per cent premium to Pantai's closing price of RM1.63 on Monday, it said in a statement on Tuesday. Parkway bought an additional 35 million shares, or an 8.8 per cent stake, in the open market for RM1.70 each. The company also purchased 24.3 million warrants from Datuk Lim for RM1.33 apiece, bringing the total to RM311.6 million. Parkway, which is 26 per cent owned by US private equity fund

Newbridge Capital TPG Inc., previously known as Texas Pacific Group and TPG Capital, is an American investment company based in Fort Worth, Texas. The private equity firm is focused on leveraged buyouts and growth capital. TPG manages investment funds in growth c ...

, said there will be potential operational synergies with its existing two Malaysian hospitals and other hospitals in the region. With the deal, Parkway would control Pantai's seven hospitals and about 1,000 beds. An analyst from Nomura Advisory Services told The Business Times that the entry of Parkway, an established health-care provider with a proven track record, would substantially boost Pantai's performance. "There are not many players within Malaysia. Given Parkways entry, it should facilitate those who want to sell," the analyst said. JP Morgan's research head Melvyn Boey told the paper: "Most important (about the purchase) is that Parkway is very experienced in the healthcare industry and the whole consolidation exercise will help the industry." The entry of Parkway, the owner of the Gleneagles group of hospitals, could alert other private hospitals that there is a ready buyer in town. Parkway Holdings Limited began operating as a subsidiary of Parkway Pantai Limited in August 2010.

References

External links

Official website of Parkway Pantai
{{Singapore hospitals Health care companies of Singapore Singaporean brands IHH Healthcare Companies listed on the Singapore Exchange