Asian healthcare company Columbia Asia has raised a new round of investment of USD210 million to help in its aggressive expansion strategy.
Columbia Asia, part of Seattle-based Columbia Pacific Management, has 29 hospitals and two clinics in India, Malaysia, Vietnam, Indonesia and Kenya, built with an innovative business model focused on serving Asia’s rapidly growing middle class with modern and efficient multi-specialty hospitals located close to where patients live and work. The company has about 10,000 employees serving more than 2.5 million patients a year, with 2,600 beds across all its facilities.
The company last year opened new hospitals in Kuala Lumpur and Bangalore and at its current pace of growth will have 45 hospitals and two clinics – with a total of more than 4,000 beds – by 2025.
“Columbia Asia is uniquely positioned to meet the health care needs of Asia’s rapidly growing middle class,” says Nate McLemore, Managing Director for International Healthcare of Columbia Asia’s parent company, Columbia Pacific Management. “The growth potential in the markets we serve is unprecedented and we are pleased that this additional investment will further accelerate our expansion.”
The USD210 million in growth capital comes primarily from existing investors. This includes USD140 million from Mitsui & Co. Tokyo-based Mitsui is already a key shareholder in Columbia Asia, having invested USD101 million in 2016, and has now more than doubled its stake in the company.
The remainder of the USD210 million in new capital comes primarily from investments from individuals and families.
“Since our first investment in July 2016, we have been working closely with Columbia Pacific Management to develop the growth strategy of Columbia Asia, and we are thrilled to be taking part in the additional investment,” says Koji Nagatomi, Managing Officer and Chief Operating Officer, Healthcare & Service Business Unit of Mitsui & Co. “Through our strengthened partnership, we hope to work side-by-side with CPM to expedite the growth and enhance the value of Columbia Asia,”
Columbia Asia opened its first hospital in 1996 and over two decades has developed into one of the largest hospital companies in Asia. Columbia Asia is the only healthcare provider in Asia to operate hospitals in so many countries under a single brand, and is one of the few large, multinational providers in Asia to internally develop and build the vast majority of its hospitals.
Columbia Asia has 12 hospitals in India, 12 hospitals in Malaysia, three hospitals in Indonesia, two hospitals and one clinic in Vietnam and one clinic in Kenya.
