Mitsui to Expand Hospital Business in Asia

Tokyo, July 27 (Jiji Press)--Mitsui & Co. <8031> said Wednesday that it will invest in the Columbia Asia group, which operates medical institutions in Asia. The major Japanese trading house will invest 101 million dollars in the group's holding company, International Columbia U.S. LLC, to acquire a 16.2 pct stake in the Seattle-based company. As part of efforts to strengthen its nonresources businesses, Mitsui is expanding hospital-related activities in Asia, where medical spending is expected to rise on the back of the region's robust economic growth. The Columbia Asia group operates 27 hospitals and one clinic in Malaysia, India, Indonesia and Vietnam, chiefly targeting middle-income people. In 2011, Mitsui invested in Malaysia's IHH Healthcare Bhd., which operates 49 hospitals mainly in Asia. The company aims to further expand its operations in the medical sector, including preventive care. END