Malaysian Firm Enters Health Care Arena

4 March 1996

The Malaysian drugmaker CCM is to enter the health care sector with the establishment of the Mont Kiara Specialist Center in the Klang Valley. Oh Kim, CCM's group executive director, said the reason for the move was to expand CCM pharmaceutical products division. The new center will include a 150-bed hospital, 72 physicians' offices in a separate five-storey building, operating theaters, an intensive care unit and a public area.

Mr Kim said that although the company only manufactures pharmaceuticals, it looks on health care as a business and believes it has good growth potential. He added that there was also a higher level of health consciousness among consumers due to greater affluence levels resulting in the need for more sophisticated health care services.

Australian Expansion CCM also plans to extend its health care line through an agreement with an Australian company to set up a chain of retail outlets. CCM will establish at least 100 outlets nationwide over the next five years dealing in both prescription and nonprescription drugs. To achieve this, it has set up Pacific Medicare, in which it has a 51% stake, with the Australian Pharmaceutical Industry company holding 39%. The remainder is to be held by an individual investor.

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