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| Acquisition Leads Way for Group Expansion in Asia |
SINGAPORE, May 6, 2016 - (ACN Newswire) - Healthe Care, Australia's third largest private healthcare group, officially became a member of Luye Medicals Group Pte Ltd (Luye Medical Group) after the AU$938 million acquisition from Australia's Archer Capital Fund was completed on April 18. With this acquisition, Luye Medical Group has grown into the ranks of the largest international private medical groups in the region.
Healthe Care will continue to expand its business operations in the Australian market, and work closely with Luye Medical Group to expand its footprint and build high quality healthcare services in Singapore, China and the other Asian countries.
The China healthcare market, driven by an aging population and emerging healthcare friendly policies, has accelerated its development. According to statistics, the market size of China's healthcare industry is approximately US$280 billion, while the compound annual growth rate of hospital income during 2009 to 2013 was 20%, with private hospitals achieving as high as 28%.
However, due to lack of adequate policy support and infrastructure, it has been difficult for private hospitals to specialize and extend their services to a wider population, so Chinese private healthcare providers only cover about 10%(1) of the total patients population, notably lower than the 20% to 30% target(2) set by the government. Luye Medical Group believes that Healthe Care will enhance the Groups capabilities in China, enabling high quality healthcare services at international standards.
Mr Choo Kin Poo, Luye Group Vice President, Strategy Planning & Business Development, said, "This is our largest acquisition so far. As a medical group headquartered in Singapore with assets overseas, having Healthe Care on board will allow us to build on our business strategy and plans to expand in Singapore and Asia Pacific."
"The acquisition of Healthe Care represents an important milestone in the development of Luye Medical Group. It has great strategy significance and will influence the development of our healthcare services, and lays the foundation for Luye Medical Group and Luye Group to be a market leader both in China and internationally," said Mr. Liu Dianbo, Chairman of Luye Group.
Both Healthe Care and Luye Medical Group specialize in areas such as oncology, cardiology, neuropsychiatry, orthopaedics and rehabilitation, using key therapeutic pharmaceutical products from Luye Pharma Group (HK:2186), another member of Luye Group.
(1) Statistical Communique on Development in Health and Family Planning of China in 2014, as released by the National Health and Family Planning Commission: In 2014, patients of public hospitals were 134,150,000 (accounting for 87.3% of total patients) and patients of private hospitals were 19,600,000 (accounting for 12.7% of total patients).
(2) In 2013, the State Council proposed a Plan for Deepening the Medical and Health System Reform during the 12th Five-year Plan Period , and an Implementation Program, in which beds and service quantity of non-public medical institutions shpuld reach approximately 20% of the total quantity by 2015.
About Healthe Care
Healthe Care was established in 2005. Currently, it runs 17 medical institutions in Australia's major cities and regions with about 2,000 beds, over 50 operating rooms and 5,000 employees. The major specialties of Healthe Care cover areas such as oncology, cardiology, neuropsychiatry, orthopedics, rehabilitation, gynecology, general medical services and uses advanced treatment technology and equipment.
Healthe Care has built one of the first hybrid operating rooms in the world, and is the first medical institution to introduce robotic assisted spinal surgery in Australia. Its day surgery centres are equipped with meticulous pre-operation evaluation processes, advanced operating room conditions and equipment, scientific medical treatment procedures, complete post-operation follow-up systems, and are supported by highly professional and experienced surgeons and anesthetists, who have become a featured service of Healthe Care. For more information, please visit www.healthecare.com.au.
About Luye Medical Group
Headquartered in Singapore, Luye Medical Group has developed rapidly in recent years and achieved significant progress in expansion and globalization. Besides Healthe Care, it has acquired JC Health Co Ltd in South Korea, and is currently the largest shareholder of AsiaMedic Ltd (SG:AMAT) in Singapore. Luye Medical Group focuses on developing high quality and patient centric healthcare services and systems in Singapore, China, Australia and other Asian countries, and will continue to grow through partnerships with global healthcare institutions and mergers and acquisitions. For more information, please visit www.luyemedical.cn/en.
Contact:
Waterbrooks Consultants Pte Ltd
Jacqueline Lim
Tel: +65 9695 9318
Email: jacqueline@waterbrooks.com.sg
Topic: Merger & Acquisition
Source: Luye Medical Group Pte Ltd
Sectors: BioTech, BioTech, Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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