ASX release: New Joint Venture to Tap Healthcare Opportunities in Myanmar
Singapore-Based AAMG Partners Lat War Group To Tap Healthcare Opportunities in Myanmar
JV will explore collaboration with doctors and healthcare operators in country of 55 million people
Singapore/Yangon, 28 July, 2017 – Singapore-based healthcare operator Asian American Medical Group (“AAMG”) announced today it will partner Golden Land Unitedhealth Group Company Limited (“GLUHG”), a company under the Lat War Group (“Lat War”), an established conglomerate in Myanmar, to tap healthcare opportunities in the country of 55 million people.
Australian Securities Exchange-listed AAMG will take a 51% stake in Gold Bell Healthcare Ventures Company Limited (“GBHV”) and the remaining 49% in GBHV will be held by GLUHG. AAMG, which specializes in liver treatment and oncology, has been involved in Myanmar’s healthcare sector since 2014.
Established in 1999, Lat War is involved in garments and textiles, paper manufacturing, power generation and real estate. GBHV will be its first venture into the healthcare sector.
Myanmar is one of Southeast Asia’s fastest-growing economies. Under a recent two-year extension of the Country Partnership Framework agreement, the World Bank is expected to provide $1.2 billion in financing to spur rural growth, social services, healthcare and job creation.
GBHV will collaborate with local healthcare operators either as a joint venture or as a management and consultancy arrangement.
Both partners will evaluate and undertake potential projects and investments, leveraging on AAMG’s international connections and technical expertise, and Lat War’s business network and ability to secure relevant regulatory approvals within the country.
Dr Tan Kai Chah, Executive Chairman of AAMG and renowned liver surgeon, said: “It is an honour to partner the Lat War Group, which has a proven track record and extensive business networks. Myanmar is a fast-growing nation with a young population which will require increasingly higher levels of healthcare.”
Dr Khin Maung Aye, Managing Director of GLUHG said: “While Lat War is new to healthcare, we are experienced in doing business in Myanmar. Backed by the track record and international network of Dr Tan and his team, I am confident we will make rapid inroads into this exciting sector.”
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ABOUT ASIAN AMERICAN MEDICAL GROUP
Asian American Medical Group (“AAMG”) is based in Singapore and has been listed on the Australian Securities Exchange since September 2009. The Group’s operations include the Asian American Liver Centre Pte Ltd (“AALC”), established in 1994 in Singapore, and Asian American Radiation Oncology Pte Ltd (“AARO”).
The Group entered into a strategic collaboration in October 2012 with the US-based US$13-billion integrated global health enterprise University of Pittsburgh Medical Center. UPMC, ranked No. 12 on the
U.S. News & World Report Honor Roll of American’s Best Hospitals, is affiliated with the University of Pittsburgh Schools of the Health Sciences and are pioneers in the field of transplantation. This collaboration has enhanced AAMG’s clinical capabilities through shared protocols, rigorous quality standards and technology and also created a platform for AAMG to expand into other countries in Asia such as Malaysia and Myanmar.
AALC, one of Asia’s foremost liver centres, is led by renowned hepatobiliary expert and liver transplant surgeon, Dato’ Dr. Tan Kai Chah (Dr. KC Tan), who helped start the Liver Transplant Programme at the King’s College Hospital London, United Kingdom, and pioneered the highly successful Living Donor Liver Transplantation (LDLT) Programme in Singapore. In 2004, AALC began conducting surgical procedures at the IHEAL Medical Centre located in Kuala Lumpur, Malaysia.
AARO, established in March 2015, offers radiation oncology clinical, consultancy and management services and is led by Dr Daniel Tan Yat Harn. Based in Singapore, AARO will drive expansion into the growing radiotherapy and oncology segment in the overseas market, at a time where there is a shortage of modern radiotherapy treatment centres.
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Asian American Medical Group Limited published this content on 28 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 July 2017 01:44:01 UTC.