KPJ, Naim Land ink hospital pact

Kumpulan Perubatan (Johor) Sdn Bhd has signed a joint-venture agreement with Naim Land Sdn Bhd to own a purpose-built hospital and later operate the hospital at Kuala Baram district in Miri.

Under the joint venture, Kumpulan Perubatan Johor, a wholly-owned subsidiary of KPJ Healthcare Bhd, will design, develop, build, complete and run the hospital.

Parent company, KPJ Healthcare, said Kumpulan Perubatan Johor, would operate through a joint-venture company, in which the latter would hold 70 per cent equity interest while Naim Land the remaining 30 per cent.

The joint venture was in line with the KPJ Healthcare and its subsidiaries' objectives to increase their hospital network to locations where private healthcare was in demand.

At the same time, it would leverage on KPJ's and Naim Land's capabilities to operate a private hospital and to lower KPJ's initial start-up costs, it said.

The joint-venture is expected to be fulfilled and completed by the first half of this year, said KPJ Healthcare in a statement today.

By Bernama