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Singapore-based Luye Medical Group Completes Acquisition of Healthe Care, Australia's Third Largest Private Healthcare Group
The deal worth AU$938 million dollars paves the way for the Group's expansion in Asia
SINGAPORE, Apr 24, 2016 - (ACN Newswire) - On April 18, 2016, Australia's third largest private healthcare group, Healthe Care, officially became a member of Luye Medicals Group Pte Ltd (Luye Medical Group) after the acquisition from Australia's Archer Capital Fund was completed. Through the acquisition of Healthe Care, Luye Medical Group has leapfrogged into the ranks of one 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 building high quality healthcare services in Singapore, China and the other Asian countries.
In the China market, driven strongly by aging population and emerging healthcare friendly policies, the China healthcare market has accelerated its development. According to statistics, the market size of China's healthcare industry is approximately US 280 billion dollars and the compound annual growth rate of hospital income during 2009 to 2013 was 20%, of which that of private hospitals was 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 its services to a wider population, resulting in the fact that 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 the acquisition of Healthe Care will greatly enhance its capabilities in China, enabling it to deliver high quality healthcare services with international standards.
Mr Choo Kin Poo, Group Vice President, Strategy Planning & Business Development, Operations 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 extensive influence on the development of healthcare services and lays the foundation for Luye Medical Group and Luye Group as a market leader both internationally and in China," said Mr. Liu Dianbo, Chairman of Luye Group.
Both Healthe Care and Luye Medical Group specialize in areas such as oncology, cardiology, neuropsychiatry, orthopedics, and rehabilitation and synergies with the key therapeutic pharmaceutical products of Luye Pharma Group, 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 the patients of public hospitals were 134,150,000 (accounting for 87.3% of the total patients) and the patients of private hospitals were 19,600,000 (accounting for 12.7% of the total patients).
(2) In 2013, the State Council proposed in the Plan for Deepening the Medical and Health System Reform during the 12th Five-year Plan Period and the Implementation Program, the beds and service quantity of non-public medical institutions shall reach approximately 20% of the total quantity in 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, equipped with meticulous pre-operation evaluation processes, advanced operation room conditions and equipment, scientific medical treatment procedures, complete post-operation follow-up system, and supported by highly professional and experienced surgeons and anesthetists, have also become a featured service of Healthe Care.
Contact:Waterbrooks Consultants Pte Ltd
Jacqueline Lim
Tel: +65 9695 9318
Email: jacqueline@waterbrooks.com.sg
Source: Luye Medical Group Pte Ltd
Sectors: BioTech, BioTech, Healthcare & Pharm
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