Singapore billionaire Peter Lim's upcoming healthcare mega-city in Iskandar Johor is linking up with another of his firms - Thomson Medical.
The private healthcare provider inked a memorandum of understanding yesterday with Rowsley, the developer controlled by Mr Lim.
The deal involves the firms working together to conceptualise, develop and promote the RM5 billion (S$1.7 billion) healthcare city.
Thomson Medical will advise on the wellness and healthcare aspects of the project and evaluate opportunities to operate relevant components, either on its own or together with third parties, said Rowsley in a statement.
Rowsley announced in September that it was re-positioning Vantage Bay into a medical hub instead of a lifestyle township following the decline in the market for residential apartments in Iskandar over the last year.
Vantage Bay Healthcare City, a 9.23ha site a kilometre from the Johor Causeway, will comprise a specialist hospital, a community hospital, long-term care facilities, a teaching hospital, a medical school, research and training institutions and a wellness resort.
Rowsley said in its statement yesterday: "According to official statistics, the number of Malaysians and Singaporeans aged 65 years and older will double to six million by 2030 from today.
"With ageing population and rising healthcare costs, Rowsley believes that Vantage Bay Healthcare City is well-placed to address these trends."
Vantage Bay is next to the Thomson Medical Hub, also being developed by a firm linked to Mr Lim. That project will be managed by Thomson Medical when it is ready in 2018.
Thomson Medical group president Chan Boon Kheng said the firm will play a "pivotal role in the seamless management and coordination" of the Vantage Bay Healthcare City and the Thomson Iskandar projects.