Updated on 22 May 2015
FMI will own 60 percent share of the joint venture entity with the Lippo Group owning the rest
Singapore: First Myanmar Investment (FMI), one of Myanmar's largest public companies, announced collaboration with Indonesia's Lippo Group to provide international standard healthcare services at its Pun Hlaing Hospital, located in Myanmar.
As per the terms, Pun Hlaing Hospital will change its name to Pun Hlaing Siloam Hospital. FMI will own 60 percent share of the joint venture entity with the Lippo Group owning the rest.
The Lippo Group is the controlling shareholder of Siloam International Hospitals, Indonesia's largest healthcare operator with currently 21 hospitals in operations.
Dr James Riady, chief executive officer of the Lippo Group, said, "This represents a first step for us into the country and we will go beyond the city of Yangon to become a national network. Siloam is a national leader for healthcare in Indonesia and we aim to build a similar model in Myanmar."
Mr Serge Pun, chairman of FMI, said the deal will help his company provide high quality healthcare at different price points to suit the needs of Myanmar people.