BT : Healthway to open $40m specialist centre

Business Times - 17 Mar 2010

Healthway to open $40m specialist centre

TripleOne Somerset facility's first phase to be ready in March

By KAREN NG

HEALTHWAY Medical will open a specialist centre at TripleOne Somerset.

The project, which is estimated to cost $40 million, will be completed in several stages over three years. The first phase, costing $2 million, will be ready later this month.

The entire Healthway Medical Centre (HMC) will occupy seven floors, or about 150,000 sq ft, of TripleOne Somerset.

Plastic surgeons, dentists and dermatologists will be housed in the first phase of the centre, located on level two of TripleOne.

The focus on aesthetics and plastic surgical procedures is aimed at anchoring Healthway's position as a leading provider of medical aesthetics.

In later stages, other specialist services will be introduced at HMC. To provide the best services, Healthway will join forces with local and overseas institutions to bring in other practices and therapies. The number of doctors in the centre is expected to exceed 200.

HMC managing director Wong Weng Hong said: 'Many patients in Singapore and around the region are looking for good medical care extended by a reputable and reliable group. We believe this project will address this growing demand.'

The management believes patients and physicians can be linked for consultation and treatment via tele-medical connections with Healthway's centres in China and other countries in the region.

Dr Wong said: 'Our centres in Singapore and China will be linked to HMC through leading-edge tele-medicine technology that will enable doctors and patients to connect effectively across vast distances.'

As most of the costs will cover renovation and equipment, funding if any will be predominantly from asset-based lending from banks - such as hire-purchase and term loans, a source said.

The establishment of HMC is not expected to have any material effect on the net tangible assets and earnings per share of Healthway for the financial year ending Dec 31, 2010.

Yesterday, Healthway shares closed one cent lower at 17 cents.

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