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Private sector eyes opportunities abroad

The private sector of Singapore’s medical tourism industry is looking beyond the Lion City to grow their business.

ParkwayHealth, controlled by the US-based private equity firm Texas Pacific Group (TPG), has plans to set up several multispeciality hospitals in India.

The group is also tying up with some of the leading healthcare providers in India apart from its plans to build hospitals on its own.

Currently, it has an agreement with Apollo Hospitals Group and has bought a 50 percent stake in the Khubchandani Hospital in Mumbai that is jointly owned by the Mauritius-based Koncentric Investments.

ParkwayHeath plans to initially invest approximately US$83 million in Khubchandani Hospital. Starting with five or six hospitals in large cities, the former has plans to set up 300-400-bed multispeciality hospitals all over the country.

The Khubchandani Hospital, which will be a 1,000-bed facility, is expected to be operational by 2011. The agreement with Apollo Group is intended to help ParkwayHealth develop hospitals across West Bengal. This joint venture currently runs Apollo Gleneagles Hospital, a 325-bed multispeciality hospital in Kolkota. This hospital will cater to Eastern India and neighbouring countries like Bangladesh, Myanmar, Nepal and Bhutan.

Another group that believes while some patients will come to you, you can get many more by going to them is Singapore Medical Group (SMG).

SMG originally entered the medical tourism market through the Lasik Surgery Clinic (LSC), a specialist centre that treats myopia.

The company's business model, which draws a clear line between management and medicine, has been so successful that SMG has exported the model to the Philippines. LSC Manila is a joint venture with STI Dela Santos, which owns the largest nursing school in the Philippines in Alabang. SMG operates LSC Alabang with Bumungrad Thailand, while LSC Angeles City is a joint venture with Angeles University Foundation.

“Although it is not a traditional market for Singapore companies, the Philippines is an English-speaking country of 85 million people and refractive surgery is in its infancy. No, we rank No. 1 there in volume with all three LSC clinics combined,” said SMG founder Dr Cheryl Baumann.

After lasik surgery, SMG pioneered sports medicine in Singapore by partnering with Changi General Hospital to set up the Singapore Sports Medicine Centre. SMG then went on to open The Dental Studio, focusing on cosmetic dentistry, the Singapore Aesthetic Centre, which offers weight management and dermatology treatment, Singapore Vision Centre for patients with eye conditions other than myopia and oncology in The Cancer Centre. This year, SMG expects to establish presence in Japan, China and Vietnam.