Parkway Holdings is a medical company based in Singapore

Singapore

Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...

 and is South-east Asia's largest health-care provider.

Parkway Health

Parkway Health owns sixteen hospitals, including three private hospitals in Singapore. It also has a network of regional hospitals in Malaysia, India

India

India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...

 and Brunei

Brunei

Brunei , officially the State of Brunei Darussalam or the Nation of Brunei, the Abode of Peace , is a sovereign state located on the north coast of the island of Borneo, in Southeast Asia...

, including Jerudong Park Medical Centre

Jerudong Park Medical Centre

Jerudong Park Medical Centre is the major Private Specialist Hospital in Brunei Darussalam.The Centre is situated within the famous Jerudong Park area, and is located on the shores of the South China Sea with patient rooms facing an expanse of beautiful, private beaches.The hospital offers...

. A number of health-tourism provider

Health tourism provider

A health tourism provider or medical tourism provider is an organisation or a company which seeks to bring together a prospective patient with a service provider, usually a hospital or a clinic. If the patient is crossing international borders to obtain medical care, then that individual would...

s work with Parkway's hospitals to develop medical tourism

Medical tourism

Medical tourism is a term initially coined by travel agencies and the mass media to describe the rapidly-growing practice of travelling across international borders to obtain health care...

.

The Group's other health-care network includes Parkway Shenton Pte Ltd, one of Singapore's biggest general practices; Medi-Rad Associates Ltd, a leading radiology service provider; and Parkway Laboratory Services Ltd, a major provider of laboratory services locally. The Group is also a pioneer in the private health-care industry providing contract research services through subsidiary Gleneagles CRC Pte Ltd.

Some of Parkway's hospitals are subjected to international healthcare accreditation

International healthcare accreditation

Due to the near-universal desire for quality healthcare, there is a growing interest in international healthcare accreditation. Providing healthcare, especially of an adequate standard, is a complex and challenging process...

, while others are not.

Hospitals

• East Shore Hospital
  East Shore Hospital and Medical Centre
  Parkway East Hospital, formerly East Shore Hospital , is a 123-bed healthcare facility located in Telok Kurau, Singapore. It opened in the 1930s as the Paglar Maternity and Nursing Home, and was founded by Dr Charles Joseph Pemberton-Paglar.-History:...
  
  
• Gleneagles Hospital
• Mount Elizabeth Hospital
  Mount Elizabeth Hospital
  Mount Elizabeth Hospital is a 373-bed private hospital in Singapore operated by Parkway Health. It was started in 1976 and officially opened in 8 December 1979....
  
  

History

On September 14, 2005, Singapore's Parkway Holdings Ltd acquired a 31 per cent stake in Pantai Holdings Bhd for RM312 million (US$82.8 million) to emerge as the largest shareholder of the leading private health-care service provider in Malaysia. Analysts said the move by Parkway, South-east Asia's largest healthcare provider, may spark consolidation in private hospitals in Malaysia. On Tuesday, Parkway purchased 89.7 million shares, for a 22.5 per cent stake, from Pantai's chief executive officer, Datuk Lim Tong Yong, for RM2.45 each at a 50 per cent premium to Pantai's closing price of RM1.63 on Monday, it said in a statement on Tuesday. Parkway bought an additional 35 million shares, or an 8.8 per cent stake, in the open market for RM1.70 each. The company also purchased 24.3 million warrants from Datuk Lim for RM1.33 apiece, bringing the total to RM311.6 million. Parkway, which is 26 per cent owned by US private equity fund Newbridge Capital, said there will be potential operational synergies with its existing two Malaysian hospitals and other hospitals in the region. With the deal, Parkway would control Pantai's seven hospitals and about 1,000 beds. An analyst from Nomura Advisory Services told The Business Times

Business Times (Singapore)

The Business Times of Singapore is an English-language newspaper published since 1 October 1976 . In 1 January 1994, it became the first English-language newspaper in Asia to launch an online news service called Business Times Online. It is part of the Singapore Press Holdings group.-External links:*...

that the entry of Parkway, an established health-care provider with a proven track record, would substantially boost Pantai's performance. "There are not many players within Malaysia. Given Parkways entry, it should facilitate those who want to sell," the analyst said. JP Morgan's research head Melvyn Boey told the paper: "Most important (about the purchase) is that Parkway is very experienced in the healthcare industry and the whole consolidation exercise will help the industry." The entry of Parkway, the owner of the Gleneagles group of hospitals, could alert other private hospitals that there is a ready buyer in town.