IHH Healthcare kick-starts construction of US$70m maiden hospital in Myanmar

The facility will open in 2020.

The healthcare firm continues to enlarge its coasts as it embarks on its first foray into the Southeast Asian nation with a joint venture consortium to invest a 250-hospital in Yangon, the country’s capital.

According to a press release by IHH Healthcare, the new hospital, Parkway Yangon, will be developed and operated by a JV consortium, Andaman Alliance Healthcare Limited, comprising of Parkway Healthcare Indo-China, Macondray Holdings, AMMK Medicare Company, and Global Star Company.

“The hospital is located at downtown Yangon on a 4.3 acres plot of land leased for 50 years at prevailing market rate, with the option of two 10-year extensions. This represents a significant commitment to invest in the local community through a “build-operate-transfer” model. Investment for the project has obtained approval from the Myanmar Investment Commission,” the press release said.

According to Dr Tan Lee Seng, CEO of IHH Healthcare, the hospital will greatly support Myanmar’s national health policy, which aims to deliver world-class healthcare outcomes.

“The establishment of Parkway Yangon will be a catalyst for the training of healthcare professionals such as nurses and allied healthcare practitioners. This will create more job opportunities for the community,” the press release said.