The partnership will enable Columbia Pacific to expand further in China through acquisitions and greenfield projects
Columbia Pacific Management, a healthcare provider, is partnering with Temasek, an investment company based in Singapore. The joint venture will provide China’s growing middle-class population an affordable, patient-centered care across a spectrum of healthcare and senior services, stated a company release.
Columbia China currently has a 220-bed orthopaedic hospital, two multi-speciality clinics and three senior living facilities in Shanghai and Beijing. The company is also developing three multi-speciality hospitals having 300-500 beds, in Wuxi, Jiaxing and Changzhou, as well as a 300-bed senior living facility in Ningbo and a growing pipeline of other projects across China.
Temasek is investing about $250 million in Columbia China, the China healthcare arm of Seattle’s Columbia Pacific Management, which will result in a 50/50 joint venture with Columbia Pacific.
The partnership with Temasek will enable Columbia China to further expand in China through acquisitions and greenfield projects.
“We’ve already built a strong team in China that has quickly expanded since we first entered the China market five years ago, with such valued support from Temasek. We look forward to continuing to accelerate our growth,” said Bee Lan Tan, Group CEO, Columbia China.
EH News Bureau