Peter Lim : TMC Life eyeing acquisitions

TMC Life Sciences Bhd (0101), which saw the entry of new substantial shareholder in August, is on the lookout for more opportunities in Malaysia's healthcare sector.

TMC Life Sciences newly-appointed group chief executive officer Francis Lim Poon Thoo said the firm's appetite for growth is there and its new shareholders may make further acquisitions in the future.

"With the support of the new shareholders, we would like to participate in further growth of the country's healthcare and medical tourism sector and its communities," Lim told reporters after a corporate presentation in Kuala Lumpur recently.

TMC Life Sciences, which is popular for its fertility treatment, owns and operates the RM120 million Tropicana Medical Centre in Kota Damansara.

Singaporean billionaire Peter Lim Eng Hock owns a 32.4 per cent stake in TMC Life Sciences as at August 2010 via Hong Kong-based Gilberta Investment Ltd.

Another 31.4 per cent stake is owned by Berjaya Corp Bhd.

Following Eng Hock's purchase, TMC founder Datuk Dr Colin Lee Soon Soo resigned from the company but is still with the hospital and continues to contribute to the fertility division.

The company will focus on growing its non-fertility and medical tourism segments over the next few years as medical tourism is expected to receive 375,000 foreigners entering Malaysia next year.

"We hope to grab a 10 per cent market share out of the 375,000 medical tourists from 1 per cent right now," said Poon Thoo.

It plans to target patients from Cambodia, Laos, Vietnam, Bangladesh, Indonesia and Singapore.

Apart from the 180-bed Tropicana Medical Centre, it has a 50-bed hospital in Penang and fertility branches in Johor Baru, Kuantan, Puchong and Kepong.

"We also expect to narrow our net losses this year ending December 31 2010 and make a net profit in 2012," said Poon Thoo.