Yoma Siloam Hospitals Pun Hlaing, a subsidiary of the conglomerate First Myanmar Investment (FMI), has paid USD 4.9 million for a majority stake at a hospital in Taunggyi, the capital of Shan State, according to a report in the Myanmar Times. The report says that the group will take a 70 percent stake in Sein hospital, a 100-bed facility in Taunggyi that provides primary and secondary medical services. Local partner Dr Tun Aye will hold the remaining 30 percent in the hospital. U Tun Tun, COO of FMI, said the move is part of plans by the company to build a hospital network nationwide and that the group is “looking towards expansion into other cities in due course”. As well as its Taunggyi acquisition, the company operates hospitals in Hlaing Tharyar, in western Yangon, and Mandalay, as well as clinics in Yangon’s Botahtaung Township, at Star City, in Yangon’s Thanlyin Township, and in Nyaung Shwe, Shan State.
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