Timberland Medical Centre announced development of new hospital in Sarawak, Malaysia
Heritas is delighted to share that our portfolio company, Timberland Medical Centre (TMC), has announced the development of a new hospital in Sarawak, Malaysia. The new purpose-built 200-bed hospital will enhance TMC’s healthcare service offering in Kuching and is expected to be completed by 2024.
Heritas became a majority shareholder of TMC in 2016, sharing the vision of the founding doctors of the hospital to provide affordable, accessible, and quality healthcare in an underserved private healthcare market. Since then, more doctors with core and complementary sub-specialities have joined the TMC family, strengthening the various centres-of-excellence and catalysing the development of the private healthcare market in the region.
“East Malaysia / Borneo remains underserved healthcare markets compared to Peninsula Malaysia. Every year, tens of thousands of Indonesian patients from West Kalimantan take long journeys to get to Timberland Medical Centre in Kuching (the regional medical hub) to get affordable quality private healthcare as local options are limited. TMC’s new facility will greater expand its capacity to serve local and regional healthcare needs.”
“Working closely with TMC doctors and staff as well as local partners and stakeholders, Heritas team is pleased to contribute to TMC’s mission and purpose to provide more sustainable and inclusive healthcare solutions,” said Chik Wai Chiew, Executive Director and CEO of Heritas Capital.