KUCHING: PMG Healthcare Group has taken a major step forward in its mission to enhance healthcare accessibility by securing a strategic investment of RM74 million from Ikhlas Capital.
The announcement was made during the PMG and Ikhlas partnership signing ceremony here today (Feb 26), witnessed by Deputy Premier cum Minister of Public Health, Housing, and Local Government, Datuk Amar Dr Sim Kui Hian.
Ikhlas Capital, a private equity fund founded by Tan Sri Nazir Razak, focuses on investing in high-growth Asean businesses.
“In PMG, we see an exceptional Sarawakian business that can grow into a national and even regional champion,” he said, expressing his confidence in PMG Healthcare’s potential to expand beyond Sarawak and become a leading integrated healthcare provider in Malaysia and the region.
Nazir highlighted Sarawak’s ongoing economic transformation, with healthcare being a key sector poised for growth.
The state’s commitment to upgrading healthcare infrastructure and ensuring accessibility, particularly in rural areas, aligns with PMG Healthcare’s expansion goals.
“We applaud the state’s strategic focus on enhancing medical services and ensuring that quality healthcare is accessible to all Sarawakians,” he added.
“At Ikhlas, we believe we have in PMG a company with a good track record, strong leadership, and proven M&A (Mergers and Acquisitions) capabilities in an industry that is both high-growth and vital for society,” Nazir noted.
PMG Healthcare, founded in 2012 by Dr Chieng King Chong and Andrew Wong Pak Ung, has grown into East Malaysia’s largest integrated healthcare provider.
With 152 pharmacies, 28 medical clinics, and eight dental clinics, PMG is dedicated to providing quality healthcare services.
“Our mission has always been to make professional healthcare accessible and affordable while nurturing our team. Our vision is to be a global leader in local healthcare, ensuring health and happiness for all,” said Dr Chieng.
PMG Healthcare aligns its mission with the national and Sarawak government’s vision of equitable healthcare for all.
The company actively participates in initiatives such as SCHB, Peka B40, and public health campaigns to complement government efforts in improving community well-being.
“Our extensive network ensures better access to primary and preventive care while offering seamless patient experiences,” Dr Chieng emphasised.
“Ikhlas Capital brings invaluable experience and a strong regional network. Their commitment to good governance and ESG principles aligns perfectly with our vision for ethical and sustainable healthcare,” he added.
