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Enoch Yiu

Bupa, Britain's largest independent health-care company, has paid US$35.5 million to acquire Vista Healthcare Asia as it makes its first steps into China and other regional markets.

This is Bupa's first foray into the health-care business in China and Hong Kong, which are undertaking reform of their medical plans, said Andrew Kielty, managing director of Bupa's Asia operations.

'The acquisitions would add a significant health-care business for us in the Asian region,' Mr Kielty told the Business Post.

'It also marks the beginning for us to expand into the China market.'

Bupa provides medical insurance and health-care services - including privately run clinics, hospitals and care houses - worldwide.

However, in Asia it previously offered only medical insurance in Hong Kong and Thailand, and health-care services in India.

Vista will be renamed Bupa Healthcare Asia and will be run separately from its insurance business.

By acquiring Vista, Bupa has become one of Hong Kong's largest health-care providers with a wide range of businesses including 16 out-patient clinics, 250 associate clinics, multi-medical treatment centres, diagnostic services, X-ray centres and an eye-care centre.

The purchase also allows Bupa a way into the China market because Vista has a 23 per cent holding of an eye-care centre in Hangzhou. The remainder is held by a medical university.

The acquisition also includes Vista's 31 clinics in Singapore; a private hospital in Sydney, Australia; and a day-care medical centre in Malaysia.

Mr Kielty said the small stake in Vista would be a good way for the group to learn about the culture of the medical business in China.

An ageing population also has forced Beijing to consider the introduction of a medical reform plan to provide better services for the country's 1.3 billion people.

In addition, analysts expect China gradually would open up its medical services to allow foreign investors to provide private hospitals and clinic services.

Mr Kielty said once this happened, Bupa would set up more health-care joint ventures in China.

He said the lack of private hospitals and clinics was an area where Bupa could step in.

Bupa has 41 private hospitals around the world, mostly in Europe.

In Hong Kong, Bupa is the third-largest medical insurer with a market share of about 10 per cent and 140,000 policyholders under cover.

By acquiring Vista, Bupa will become one of the largest health-care providers in the SAR through Vista's 14,000 patients.

Mr Kielty was optimistic that the SAR Government's medical reform plan, which is still under consultation, would increase the need for private services.



Bupa looks after regional concerns with acquisition of Vista Healthcare