HEALTHCARE providers are enjoying the benefits of the low ringgit in attracting medical tourists to Malaysia . If 2024 is expected to be a good year , a bigger windfall awaits the industry in 2026 .

Visit Malaysia Year 2026 will see a significant spike in tourists flocking to Malaysia , and it won ’ t be just medical tourism . Eco-tourism , Islamic tourism , and even Agri-tourism are sectors that will grow rapidly in the next few years .

As such , it is not surprising that billions of ringgit are pouring into the healthcare sector , including expansions , mergers & acquisitions and new investments .

An example is the mammoth RM11 billion KL Wellness City ( KLWC ) project , the first purpose-built township project in Southeast Asia to integrate healthcare and wellness .

With a gross development value ( GDV ) of RM11 billion and over 26.49 acres , the development is world-class medical and wellness living at its core . The project features a wellrounded ecosystem primed for well-being and health . It comprises The Nobel Healthcare Park , the KL International Hospital ( KLIH ), innovation laboratories , clinical R & D facilities , healthcare company office towers , a retirement resort , a Healthcare Hub , wellnesscentric serviced apartments , a fitness-based Central Park , and more .

“ In full support of Malaysia ’ s national plan to be recognised as one of the best places for medical tourism , KL Wellness City is designed to provide and prioritise health and wellbeing as the heart of its development . This is through its vision of a 360-degree wellness hub centred around its township , encompassing all aspects of medical care , health , wellness , fitness , and business , complete with residential , retail , and commercial offerings ,” said KL Wellness City Managing Director Datuk Dr Colin Lee .

AMBITIOUS EXPANSIONS

Meanwhile , other private hospital groups , such as KPJ Healthcare , are expanding their operations . KPJ is strategically maximising its hospital network rather than embarking on new constructions . With plans for a new 60-bed hospital in Kuala Selangor , it aimed to tap into underserved areas and enhance accessibility to quality healthcare services .

This move aligns with its broader strategy of optimising assets and meeting patients ’ evolving needs locally and internationally . The group has also committed to adding 400 beds across its hospitals in 2024 .

KPJ is also renovating its Damansara Specialist Hospital 2 in the Klang Valley for RM15.9 million to include one royal suite of approximately 6,800 square feet and six presidential suites , collectively around 8,000 square feet . The focus is on providing a premium healthcare experience through personalised services , including nursing care , butler service , VIP meals , differentiated amenities , entertainment , and SMART ward technology .

Also , Pantai Medical Centre , a part of the IHH Healthcare Malaysia group , is set to embark on an ambitious expansion project adjacent to Gleneagles Hospital Kuala Lumpur . It ’ s developing a new medical block , slated for completion by 2027 , which will catapult the hospital ’ s capacity to over 700 beds equipped with cutting-edge specialised facilities .

IHH said the expansion showed its commitment to delivering exceptional care and reflects its strategic vision to accommodate the growing demands of local and medical tourists .

Columbia Asia .

KL Wellness City .

Pantai Hospital Ayer Keroh .

Prince Court Medical Centre .

BIG MERGERS AND ACQUISITIONS

In recent years , we have also seen mergers and sales of hospital groups . In 2019 , Khazanah Nasional Berhad sold Prince Court Medical Centre ( PCMC ) in Kuala Lumpur for RM1.02 billion to IHH ’ s Pantai Holdings Sdn Bhd . Khazanah had earlier acquired PCMC from the national oil corporation Petronas .

PCMC ’ s sale to Pantai Holdings Sdn Bhd underscored the dynamic nature of mergers and acquisitions in the healthcare sector .

More recently , the divestment of Sime Darby Berhad ’ s healthcare business , Ramsay Sime Darby Health Care Sdn Bhd , to Columbia Asia Healthcare Sdn Bhd for RM5.7 billion signalled a significant realignment in the industry . It signified Columbia Asia ’ s expansion plans and its ambition to strengthen its foothold in the healthcare market .

Furthermore , reports suggested a potential consolidation of healthcare assets under a mega entity , spearheaded by TPG-backed Columbia Asia Group of Hospitals , TE Asia Healthcare Partners , and Hong Leong Group . With a combined valuation of approximately RM15 billion , this consolidation could usher in a new era of collaboration and synergy , leading to enhanced efficiency and service delivery across the region .

Meanwhile , Columbia Asia ’ s plans to allocate RM1 billion for expansion , including establishing a 200-bed hospital in Batu Kawan and expanding existing facilities across various locations , highlight the group ’ s dedication to catering to diverse healthcare needs .

By offering comprehensive tertiary care models and expanding its service offerings , Columbia Asia aims to position Malaysia as a preferred destination for medical tourists seeking world-class healthcare services .

The emphasis on expanding infrastructure

, enhancing specialised care , and incorporating state-of-the-art facilities underscores the industry ’ s commitment to meeting the needs of international patients seeking quality healthcare services .

MOVING UP THE RANKINGS

Meanwhile , two Malaysian hospitals have been recognised in the highly respected Newsweek & Statista ’ s World ’ s Best Hospitals 2024 . According to a statement by the Malaysia Healthcare Travel Council ( MHTC ), this marks Malaysia ’ s first-ever inclusion , signifying a pivotal moment in its journey towards becoming a global leader in medical tourism .

MHTC Chief Executive Officer Dr Mohamed Ali Abu Bakar said : “ This recognition serves as a testament to the dedication and expertise of our healthcare professionals , as well as the continuous advancements being made in our healthcare infrastructure and patient care protocols .

“ It significantly strengthens Malaysia ’ s position as a leading destination for medical tourism . International patients can now confidently choose Malaysia for high-quality , affordable , and internationally accredited healthcare services delivered with compassion and cultural sensitivity .” Bernama reported that the hospitals were Gleneagles Kuala Lumpur and Sunway Medical Centre .

Newsweek said it partnered with Statista for its annual ranking of the world ’ s best hospitals , a series that began in March 2019 . This year , the list includes data on 2,400 hospitals across 30 countries .

For the first time , Malaysia and Chile have been added to the ranking , which also includes the US , most of Western Europe and Scandinavia , 10 Asian countries , Australia and countries elsewhere in the Americas , the