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SINGAPORE: Healthcare services provider Parkway Holdings is expanding its presence in Shanghai.
It has acquired a majority stake in the World Link Medical and Dental Centres by buying 100 per cent of another entity, Medical Resources International.
MRI owns 60 per cent of the World Link Group.
The share acquisition will cost Parkway US$42 million (about S$64 million).
Parkway will also take on S$2.5 million of loans owed by Medical Resources.
Parkway's Managing Director Dr Lim Cheok Peng says the acquisition will extend the group's patient base in Shanghai.
He says the soon-to-be-opened Shanghai Gleneagles medical and surgical centre will complement World Link Group's existing network of outpatient clinics and inpatient facilities.
The World Link Group provides both primary care and inpatient specialist medical care, including paediatrics, obstetrics and gynaecology, cardiology and dermatology.
Last year, the World Link Group attended to over 100,000 patient visits.
Parkway runs the East Shore, Gleneagles and Mount Elizabeth Hospitals in Singapore. - CNA/yy
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