Friday, September 12th, 2014
Columbia Asia, a Seattle-based firm that operates a chain of hospitals in Southeast Asia and India, announced earlier this week that it will be investing another $150 million into its hospital network. The investment will help expand the network to up to 34 hospitals and one clinic by 2018.
As the populations in Southeast Asia and India continue to rapidly grow and enter the middle class, modern hospitals that can provide high-quality and affordable healthcare is in high demand. Columbia Asia predicted this need over 20 years ago and was able to come up with an innovative and successful business model to create clusters of hospitals in large urban areas. The company currently has more than 8,000 employees serving 2 million patients every year in its 26 hospitals and one clinic, serving the countries of Malaysia, India, Indonesia, and Vietnam.
Today, they have a strong and well respected brand in the region, making it easier to continue opening new hospitals. In the last few months they have already opened four new hospitals, 2 in Indonesia and 2 in India. “No other healthcare provider in Asia has hospitals in as many countries operating under a single brand,” said Daniel R. Baty, the founder of Columbia Pacific Management. Columbia Asia has also been able to help expand insurance coverage in the region. When they first started in Malaysia, most patients paid directly for their care. Today, 70% of their patients have coverage.
Columbia Asia’s parent company, Columbia Pacific Management, also owns Cascade Healthcare which builds and operates senior living facilities in China.