Parkway Holdings
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Parkway Holdings SGX: P27 is a medical company based in Singapore and is Southeast Asia's largest healthcare provider.
Parkway owns three private hospitals in Singapore, East Shore Hospital, Gleneagles Hospital and Mount Elizabeth Hospital. It also has a network of regional hospitals in Malaysia, India and Brunei, including Jerudong Park Medical Centre. A number of health tourism providers work with Parkway's hospitals to develop medical tourism.
The Group's other healthcare network includes Parkway Shenton Pte Ltd, one of Singapore's biggest general practices; Medi-Rad Associates Ltd, a leading radiology service provider; and Parkway Laboratory Services Ltd, a major provider of laboratory services locally. The Group is also a pioneer in the private healthcare industry providing contract research services through subsidiary Gleneagles CRC Pte Ltd.
Some of Parkway's hospitals are subjected to international healthcare accreditation, while others are not.
[edit] Events in 2005
On September 14, 2005, Singapore's Parkway Holdings Ltd has acquired a 31 per cent stake in Pantai Holdings Bhd for RM312 million (US$82.8 million) to emerge as the largest shareholder of the leading private healthcare service provider in Malaysia. Analysts said the move by Parkway, South-east Asia's largest healthcare provider, may spark consolidation in private hospitals in Malaysia. On Tuesday, Parkway purchased 89.7 million shares, for a 22.5 per cent stake, from Pantai's chief executive officer Datuk Lim Tong Yong for RM2.45 each at a 50 per cent premium to Pantai's closing price of RM1.63 on Monday, it said in a statement on Tuesday. Parkway bought an additional 35 million shares, or an 8.8 per cent stake, in the open market for RM1.70 each. The company also purchased 24.3 million warrants from Datuk Lim for RM1.33 apiece, bringing the total to RM311.6 million. Parkway, which is 26 per cent owned by US private equity fund Newbridge Capital, said there will be potential operational synergies with its existing two Malaysian hospitals and other hospitals in the region. With the deal, Parkway would control Pantai's seven hospitals and about 1,000 beds. An analyst from Nomura Advisory Services told the Business Times that the entry of Parkway, an established healthcare provider with a proven track record, would substantially boost Pantai's performance. "There are not many players within Malaysia. Given Parkways entry, it should facilitate those who want to sell," the analyst said. JP Morgan's research head Melvyn Boey told the paper: "Most important (about the purchase) is that Parkway is very experienced in the healthcare industry and the whole consolidation exercise will help the industry." The entry of Parkway, the owner of the Gleneagles group of hospitals, could alert other private hospitals that there is a ready buyer in town.
