KUALA LUMPUR: Khazanah Nasional Bhd and Mitsui & Co. will take up a combined 40% stake in joint venture led by NYSE-listed DaVita HealthCare Partners Inc to expand kidney care services in Asia Pacific.
DaVita said in a press statement issued out of Denver on Wednesday that the three parties signed a definite agreement to create a long-term joint venture to support growth of DaVita Kidney care operations in the Asia-Pacific region.
Khazanah, which is the government’s strategic investment fund, and Mitsui will collectively own 40% in DaVita’s Asia-Pacific kidney care business which is undertaken by its division DaVita Kidney Care.
â€œDaVita will drive operations as the majority owner of the JV and continuing its efforts to provide the same high-quality clinical outcomes that lead all other major dialysis providers in the US.â€ the statement said.
DaVita chairman and CEO Kent Thiry said two-thirds of the world’s population is in Asia Pacific and there is not enough capacity to provide access to quality care for patients.
“This partnership will leverage our collective healthcare experience to provide patients and their families the care they deserve,” he said.
Khazanah and Mitsui are major shareholders of IHH Healthcare Bhd, the world’s second largest hospital group by market capitalisation.
DaVita said with Khazanah and Mitsui’s experience and understanding of the healthcare landscape in Asia Pacific, the JV would deepen DaVita’s local expertise to accelerate expansion in the region.
DaVita currently delivers its kidney care services to patients in 42 cities across Asia Pacific.