Diversified global corporation Swire Pacific has entered an in-principle agreement to acquire a controlling stake in DeltaHealth, a specialist in cardiovascular care in Shanghai.
Swire is mainly known for its airline and beverage operations.
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In a media release on 14 March, the company confirmed that it first made a minority investment in DeltaHealth in 2021 and is now set to take a controlling stake.
The deal, when complete, will be Swire’s first controlling position in healthcare, which is also in line with its plan to be a long-term healthcare services owner and operator.
DeltaHealth, a healthcare provider in the Chinese Mainland, is recognised for its specialised cardiovascular care.
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The hospital comprises departments such as cardiology, cardiovascular surgery, and medical imaging, and has established the DeltaHealth heart team to provide comprehensive cardiac care.
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By GlobalDataIts approach includes a holistic service for patients, covering prevention, screening, treatment, diagnosis, as well as rehabilitation of cardiovascular diseases.
DeltaHealth has further developed thoracic surgery and oncology departments, offering advanced disease management and internationally standardised care, which includes a full spectrum of tumour treatments chemotherapy, radiation therapy, immunotherapy and targeted therapy, among others.
According to a Macau Daily Times report, Swire has committed HK$20bn ($2.22bn) for investment in mainland China’s healthcare industry over the next decade, demonstrating a strong commitment to this new business line.
Swire’s expansion strategy also includes a partnership with the Indonesia Investment Authority to invest in Pertamina Bina Medika-Indonesia Healthcare, indicating its intent to grow its healthcare footprint in Southeast Asia.
These investments are part of Swire’s vision to become a key player in the healthcare industry, seeking growth opportunities in markets with potential for future expansion despite economic uncertainties, the report noted.
In 2023, Swire posted a record underlying profit of HK$36.2bn, driven by the turnaround in its aviation unit and HK$22.9bn gain from the sale of Swire Coca-Cola, USA business.
