The strategic investment fund of the Malaysian government wants to make Prince Court Medical Centre a medical tourism focused hospital as part of their plan to turn Kuala Lumpur into a destination of choice for quality healthcare in the region.
Malaysian state oil company Petronas, via its wholly owned subsidiary Petronas Hartabina, has sold Prince Court Medical Centre (PCMC) to state investment fund Khazanah Nasional Berhad (Khazanah) subsidiary Pulau Memutik Ventures.
PCMC has become a self-sustaining, profitable organisation with strengthened financials and a solid operational foundation. To help PCMC with the next phase of growth to become a leading healthcare provider in Asia, it has been sold to an organisation that is better suited to the future.
Khazanah Nasional Berhad is the strategic investment fund of the Malaysian government. The acquisition is part of the Khazanah mission to build up the healthcare services sector in Malaysia.
Khazanah will use its experience and expertise to transform PCMC into a medical tourism focused hospital, and work towards turning Kuala Lumpur into a destination of choice for quality healthcare in the region.
The acquisition of PCMC is in line with the Economic Transformation Programme to boost medical tourism.
Khazanah has agreed that IHH Healthcare Berhad will manage the hospital with a right of first offer to acquire PCMC. IHH operates 10,000 beds in 10 countries.
Prince Court Medical Centre is a private hospital in Kuala Lumpur with a bed capacity of 270. The hospital was opened in 2007. Much existing medical tourism comes from executive screening packages.
View the IMTJ report on medical tourism in Malaysia..