Malaysia’s IHH Healthcare to open hospital in Hong Kong

Will invest spend US$645 million to build a private hospital at Wong Chuk Hang.

IHH Healthcare Berhad is Asia's largest hospital operator. It expects the site to be fully developed for hospital use in late 2016 when it will start operations.

With a total bed capacity of 500 beds, the hospital will provide a full range of clinical service with more than 15 specialties, including general medicine, general surgery, orthopedics and gynecology.

The University of Hong Kong's Li Ka Shing Faculty of Medicine will act as clinical partner, and oversee its professional standards, appointment of doctors, and the training of doctors, nurses and allied healthcare staff.

Partnering IHH Healthcare in this project is Cheng Yu-tung, one of Hong Kong’s four richest billionaires.

IHH Healthcare said GHK Hospital Ltd, which it 60% owns, signed a memorandum of agreement and conditions of sale and service deed with the Hong Kong government after it won a public tender for a site at Wong Chuk Hang. The remaining 40% of GHK is held by Media Year Investments Ltd that is owned by New World Development Company Ltd.

The land has a total site area of 27,500 square meters and maximum gross floor area of 46,750 square meters. IHH said it will fund the US$642 million capital expenditure with internally generated funds and bank borrowings.