First Myanmar Investment (FMI) and Lippo Group’s health care joint venture has been approved by the Myanmar Investment Commission, according to a press release.
Serge Pun-chaired FMI will own 60 percent of the joint venture, with Indonesia-based Lippo Group, the controlling shareholder of Indonesia’s Siloam International hospitals, owning the remaining 40pc stake.
“This represents a first step for us into the country and we will go beyond the city of Yangon to become a national network,” said Lippo Group chief executive James Riady in a press release. “Our commitment is to invest in a model similar to Siloam that has seen it become a national healthcare leader.”
Serge Pun said FMI and Lippo share a vision to provide equitable and accessible healthcare to a large segment of the Myanmar people.
The 182-bed Pun Hlaing Hospital will be re-named to Pun Hlaing Siloam Hospital as part of the joint venture. It claims six operating theatres, 24-7 emergency services, a maternity ward, an intensive care unit and a modern clinical laboratory, the press release said.
Source: Myanmar Times