Columbia Asia plans aggressive expansion in Malaysia
April 21, 2009 - Columbia Asia, the international healthcare provider, announces a U.S. $103 million expansion in Malaysia that will more than double the company's number of hospitals there.
Six midsize hospitals will be built in the next two years, bringing the number of Columbia Asia hospitals in Malaysia to 11. The new facilities are needed to meet the growing demand from the middle-income group for modern healthcare, officials said.
More than 60 percent of Columbia Asia's revenues in Malaysia are received from third-party payers, a percentage that is expected to go up, company officials said.
"Our expansion is an effort to reach out to average citizens," said Rick Evans, Chairman of Columbia Asia. "We want to be the preferred choice for employers, insurance companies and families."
The new hospitals will offer jobs to 1,800 people and add another 480 patient beds.
Columbia Asia, which opened its first hospital in 1998, is part of Columbia Pacific, a Seattle-based investment firm. The investing group is made up of more than 150 private-equity companies, fund managers and individuals.
In Malaysia, Columbia Asia is 30 percent owned by the Employees Provident Fund, the country's public retirement fund.
As part of the Malaysia expansion, new hospitals will open in Bintulu (September 2009), Balakong (Q3 2010), Bukit Rimau (Q3 2010), Kota Damansara (2011), Nusajaya (Q4 2009) and Setapak (Q4 2010).
Columbia Asia already has hospitals in Taiping, Seremban, Puchong, Shah Alam and Miri. The chain also has hospitals in India, Vietnam and Indonesia.
To stand out in the booming Asian healthcare market, the company offers a unique design: full-service hospitals built in neighborhoods, rather than the central city.
Patients are met with highly trained and culturally sensitive staff, advanced technology and the full range of hospital services. With efficient administration and fewer beds, the hospitals have an average patient stay of just two days, which keeps costs down.
Columbia Asia is headed by Seattle natives Rick Evans and Matt Powell. Evans, who graduated from University of Washington and UW School of Business, is the company's Chairman. Powell, also a UW graduate, is the company's Managing Director.