International Wellness and Healthcare Travel Association

Fortis - Parkway combination on medical tourism  

 

March 2010

Medical tourism driven global healthcare acquisition

 

Medical Tourism industry welcomes Fortis' acquisition
Fortis Healthcare 
Medical Tourism industry is welcoming Fortis healthcare's acquisition of a 23.9% stake in Parkway Holdings Limited. This strategic move will not only give global foot prints to Fortis but it will also help parkway hospitals to benefit from Fortis's integrated health systems, standards, knowledge pool and experience. 
 
Top destinations for medical tourism are India, Singapore, Malaysia, Thailand and Mexico and by this deal, fortis will have presence in all major medical tourism market in the world. Their top hospitals in India, Singapore and Malaysia will not only have a complete list medical procedures like stem cell therapy and organ transplant available but it will also have major medical travel destination to choose from. 
 
When some of Parkway hospital claims more then 40 % international patients ration, it is oblivious that Fortis is very well focusing on medical tourism. Chairman of the Group Mr. Malvinder singh mentioned the same in his statement. "Parkway's strong presence in Malaysia with the Pantai Group of Hospitals gives us great confidence. This acquisition will significantly expand our footprint across the region and place us strategically for geographical and clinical leadership in Asia, a big step closer to our vision of establishing a global healthcare delivery network,"
 
Along with 3 top hospitals in Singapore, East Shore, Gleneagles and Mount Elizabeth  Parkway has 39 international patient assistance centers in 17 countries throughout the world. None other hospital group has such a big number of patient assistance centers in the world. This assistance centers brings local presence, local touch and local confidence to the area they serve. It helps to lower the fear of traveling to another country or city for medical treatment. 
 

Post Acquisition

Fortis & Parkway Asian network

62 Hospitals

Total Number of Beds in network

10,000 beds

Fortis Strenght

Low Cost healthcare model

Parkway's Strength

Cutting edge technology with innovative medical specialty like Stem Cell Therapy and Organ transplantation

Jointly the Group will offer

Qualitative services for medical tourism. Customers based pricing structure (medical surgery, service opt).


Group M.D. Shivinder Singh's statement clearly indicates group's focus on medical tourism.  He said,"The potential synergy benefits from this integration includes multi-specialty capabilities, access to cutting-edge technology in stem-cell therapy and organ transplantation, sharing of medical technologies and know how, exchange of human talent, optimizing costs of operations, high brand equity through integration of premium healthcare brands in Asia as well as a fillip to medical tourism initiatives with multiple options at different price points for customers."

IWHTA President at Mount Elizabeth Hospital, Singapore

Mr Naresh Jadeja, President IWHTA visiting Parkway groups flagship hospital Mount Elizabeth, Singapore 

IWHTA_Mount Elizabeth

 357-bed Mount Elizabeth Hospital performs the largest number of cardiac surgeries & neurosurgeries in the private sector in the region. The hospital is accredited with the Joint Commission International (JCI); and is the first private hospital in Asia to win the Asian Management Award for exceptional people development and management.
 
Healthcare industry needs long term planning and Fortis hospital's strategies has proved that they believe in it.
 
After this acquisition, Fortis will have a great Pan-Asian presence with the network to 62 hospitals with combined bed strength of over 10,000. It will also have access to cutting edge technologies like stem cell therapy, organ transplantation and multi specialty capabilities.
 

Mr. Daniel Snyder,Ex CEO Parkway  & Dr Lim Choek Peng, CEO and  Ex. Vice Chairman of Parkway about the acquisition.

Mr.Daniel Synder, Ex. CEO of Parkway Hospitals
Daniel Synder
 
Dan during his recent discussion with IWHTA, said "It is a fabulous move. It create a big opportunity. Fortis's integrated health systems, standards, experience and man power skills and knowledge will help parkway to achieve its goals."  
 

 
 
 
 
Dr. Lim Cheok Peng, Parkway's CEO and Executive Vice Chairman 
 
"We are pleased to welcome fortis as a new major shareholder of Parkway. There are lots of synergies which parkway can leverage on and we look forward to working with Fortis to take Parkway to the next level."

IWHTA past newsletter highlights 

 
 
 

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May 13 - 14, 2010. Kuala Lumpur, Malaysia  
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 2010

 

2010. Mumbai, India 
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