Mitsui & Co. is making a big investment in Columbia Asia, a unit of Seattle’s Columbia Pacific Management that has 27 hospitals and one clinic in India, Malaysia, Vietnam and Indonesia.
A big Tokyo-based trading and investment company is investing $101 million in a hospital chain in Southeast Asia and India started by a Seattle investment company.
Mitsui & Co. is investing the $101 million in Columbia Asia, which has 27 hospitals and one clinic in India, Malaysia, Vietnam and Indonesia, according to a news release.
Columbia Asia is part of Columbia Pacific Management, a Seattle-based investment firm that runs health-care facilities in various countries. Columbia Pacific was founded by Dan Baty, who also co-founded the Emeritus chain of senior-living facilities in the U.S., which was sold in 2014.
Columbia Asia began in 1996 with the idea of using U.S.-style health-care and business management practices to serve the burgeoning middle class in South and Southeast Asia.
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The Mitsui investment will be used to expand Columbia Asia’s hospital network across Asia.
Mitsui, which already has healthcare investments in Asia, will gain two seats on Columbia Asia’s board.
Columbia Pacific is also using part of the Mitsui investment to open its first facility in Africa next month — a clinic in Nairobi, Kenya — under the new Columbia Africa brand.