Hatten Land and Quantum Healthcare have signed an agreement for a strategic partnership on the 22nd of March. The company will set up a special outpatient center, Quantum Specialist Centre at Hatten Land’s Imperio Mall in Melaka.
As per the terms of the agreement, Quantum Healthcare will take the space of at least 180,000 sq feet of space on three floors. The mall itself is a net lettable area (NLA) which is around 350,000 square feet spread across eight floors. The mall is slated to be used by the medical specialists of the company cosmetic doctors, medical specialists, Food and beverages (F&B) brands, as in addition to offices.
The facility is expected to be open in phases starting from the second quarter of 2023. This is Quantum Healthcare’s initial overseas expansion, and first foray into the wellness and medical business. Quantum Healthcare’s business in dentistry in Singapore is currently responsible for 100% of its earnings.
The total term is nine years, with the initial term of three years. There is also the option of renewal for another time period of three years each period. Quantum Healthcare will pay a monthly base rent as well as a service fee for the initial period of three years starting at the date of signing the contract in cash.
The agreement will be in force up to the conclusion of the tenancy agreement with Quantum Healthcare and Hatten Land. The tenancy agreement must be signed within the 30 days of the signing of this agreement.
Quantum Healthcare is also in talks with various parties regarding sub-lease arrangements.
According Quantum Healthcare’s Chief Executive Officer Thomas Tan, Melaka is ideal for an outpatient specialist in the region. center after it earned a reputation as a health hub, and , more recently, interstate and cross-border travel is back.
“Melaka is among the many health hubs within Malaysia The federal government has been increasing up efforts to advertise the country as one of the most renowned medical tourism destinations in Asia. In addition to Malaysians We want the Quantum Specialist Centre to also concentrate on Singaporeans as well as Indonesians. According to our estimations, this center could possibly serve the needs of around 24 million people who are from Singapore as well as some parts of Malaysia and Medan the capital of North Sumatra in Indonesia,” the director says.
“Medical tourism is a significant economic engine and is backed by the strong tourism industry, Melaka is shaping up to become a major medical tourism hubthat targets the mass market with accessible and affordable medical treatments from highly trained professionals,” says Dato’ Colin Tan, executive chairman and managing director of Hatten Land.
“Building an entirely new medical facility will require a substantial investment and time and, with the ongoing trend towards telemedicine and other outpatient services, malls are a growingly popular place to access healthcare and medical services, providing convenience to both patients and providers. To keep up with this trend Imperio Mall has been repositioned as a medical-focused mall, and we plan to collaborate in partnership with Quantum Healthcare to add compelling value and options for our patients on their health and wellness journeys” He adds.
It is anticipated that the collaboration would be a positive contribution to the future financial performance. Quantum Healthcare has yet to evaluate the full financial impact this collaboration will have on the company’s profits per share (EPS) or net tangible asset (NTA) per share for FY2023, which will end December 31.