Swire Pacific, a Hong Kong-based conglomerate, is gearing up to focus on healthcare investments in China and Indonesia, according to its 2023 annual report. This strategic shift follows a record year for the firm, which saw underlying profits reach HKD 36.2 billion (USD 4.63 billion).
In March, Swire reached an in-principle agreement to acquire a controlling stake in Shanghai-based healthcare provider DeltaHealth, a move that builds on its previous minority stake acquisition in 2021. DeltaHealth operates the DeltaHealth General Hospital in Shanghai, a private facility with Basic Medical Insurance designation, as well as a clinic in Hongqiao district. The acquisition, upon completion, will mark Swire’s first controlling position in the healthcare sector, aligning with its long-term strategy to act as an owner and operator of healthcare services.
Swire is also expanding its healthcare footprint in Indonesia through a joint investment agreement with the Indonesia Investment Authority in December 2023 to invest in IHC, a hospital group in Indonesia. IHC owns 37 hospitals and operates 66 clinics across the country. This marks Swire’s first healthcare investment in Southeast Asia, with the deal expected to close in Q2 2024, pending anti-trust approval.
Swire’s existing healthcare portfolio includes minority stakes in Columbia China Healthcare Co., Ltd, which owns and operates private hospitals and senior housing in the Yangtze River Delta area, and in SHH Core Holding Ltd, which owns Shenzhen New Frontier United Family Hospital, operated by United Family Healthcare in Shenzhen. Additionally, Swire has invested in HEAL Medical Group, which operates four clinics in Hong Kong. To date, Swire has invested a total of HKD 2.7 billion (USD 345 million) into the healthcare space.- Flcube.com
