Healthcare

OUEH is a Pan-Asian healthcare group that owns, operates and invests in quality healthcare businesses in high-growth Asian markets.

OUEH currently operates one general hospital, Wuxi Lippo Xi Nan Hospital, in China. Its joint venture with China Merchants Group is also developing a high-end international hospital in Shenzhen, Shenzhen China Merchants – Lippo Prince Bay Hospital to serve the affluent Greater Bay Area, and will lease and operate another Obstetrics & Gynaecology hospital, Changshu China Merchants – Lippo O&G Hospital.  

In Myanmar, OUE Healthcare holds a 40% stake in the joint venture companies that own and operate seven medical facilities that are branded as Pun Hlaing Hospitals.

In Singapore, the 60:40 joint venture company between OUE Healthcare and OUE has formed a strategic partnership with two leading respiratory specialist practices and one leading cardiothoracic surgery practice in Singapore. The strategic partnership is an integral step for OUE Healthcare to build a healthcare ecosystem anchored on Singapore’s medical best practices for regional growth.

As part of its ongoing efforts to expand its reach, in 2018 OUEH acquired a stake in First REIT Management Limited, the manager of SGX Main Board-listed First Real Estate Investment Trust (First REIT), Singapore’s first healthcare real estate investment trust, whose portfolio includes healthcare assets in Indonesia, Japan and Singapore.

Given the increasing demand for quality healthcare driven by rapidly ageing populations, growing affluence and technological developments, OUE is well positioned to capitalise on the growth potential in the healthcare segment through OUEH.

First Real Estate Investment Trust (First REIT) is Singapore’s first healthcare real estate investment trust listed in 2006. It was established with the principal investment strategy of investing in a diversified portfolio of income-producing real estate and/or real estate-related assets in Asia that are primarily used for healthcare and/or healthcare-related purposes.

Managed by First REIT Management Limited (formerly Bowsprit Capital Corporation Limited), First REIT has a portfolio of 32 properties with 11 hospitals, two integrated hospital & malls, one integrated hospital & hotel and one hotel & country club, located in Indonesia, three nursing homes in Singapore and 14 nursing homes in Japan. Its hospital assets in Indonesia are operated by PT Siloam International Hospitals Tbk, a subsidiary of PT Lippo Karawaci Tbk, a strong brand name in the Indonesian healthcare industry supported by a team of international healthcare professionals whereas The Imperial Aryaduta Hotel & Country Club and Hotel Aryaduta Manado are operated by The Aryaduta Hotel and Resort Group. The Lippo Plaza Kupang and Lippo Plaza Buton are managed by PT Lippo Malls Indonesia. In Singapore, the nursing homes at Bukit Merah and Bukit Panjang are operated by Pacific Healthcare Nursing Home Pte. Ltd. and Pacific Eldercare and Nursing Pte. Ltd., respectively. The Lentor Residence is operated by The Lentor Residence Pte. Ltd. In Japan, seven nursing homes are operated by Hikari Heights Varus Co., Ltd, two nursing homes are operated by Safety Life Co., Ltd and four nursing homes are operated by Orchard Care Co., Ltd., one nursing home operated by Social Welfare Research Institute Co., Ltd, and one nursing home operated by Benesse Style Care Co., Ltd.

On 26 October 2018, OUE Limited and OUE Healthcare Limited acquired a 60.0% and 40.0% stake, respectively, in First REIT Management Limited, the manager of First REIT.