“Subject to regulatory approval, this will involve the construction of a new building to house 180 inpatient beds, 128,000 square feet of specialist outpatient clinics, five additional operating theatres and 170,000 square feet of commercial/retail space.
The first phase is expected to commence in the first half of 2016 and it will take approximately four years to complete.”
TMC Life plans RM300m expansion for Tropicana Medical Centre
TMC Life Sciences Bhd, which is controlled by Singapore billionaire Peter Lim, looks to spend up to RM300 million to expand the facilities at its flagship Tropicana Medical Centre in Kota Damansara.
“The expansion plans of Tropicana Medical Centre is to meet the growing demand from the surrounding community and the Klang Valley.
“We look forward to serve our patients better with improved and more comprehensive services and facilities when the expansion plan is carried out,” said TMC Life chairman Professor Emeritus Datuk Dr Khalid Bin Abdul Kadir in a filing to Bursa today.
According to TMC Life (fundamental score: 2.2; valuation score: 0.3), the first phase of the expansion is expected to cost RM250 million to RM300 million.
Subject to regulatory approval, this will involve the construction of a new building to house 180 inpatient beds, 128,000 square feet of specialist outpatient clinics, five additional operating theatres and 170,000 square feet of commercial/retail space.
The first phase is expected to commence in the first half of 2016 and it will take approximately four years to complete.
Subsequently, TMC Life is looking to expand on the balance of its land in Kota Damansara and has envisaged that the entire integrated healthcare campus will host 550 acute hospital beds and another 100 long-stay beds or service apartments to serve patients families and patients who need some form of care post-discharge from the acute general hospital.
“Specialist outpatient clinics or suites will occupy a total floor area of 300,000 to 400,000 square feet.
“The entire integrated healthcare campus will serve not just patients from the Klang Valley, but also patients from the whole Malaysia and the region,” it added.
TMC Life intends to finance the first phase expansion via existing cash and bank balances and surplus of cash from existing operations.
As the first phase is to be funded entirely from existing cash and bank balances and surplus funds to be generated from the existing operation, there would be no impact to the total gearing of the group.
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