Setia HC Ventures Sdn Bhd (“Setia HC Ventures”), a wholly owned subsidiary of S P Setia Berhad, entered into a joint venture with Qualitas Medical Group Sdn Bhd (“Qualitas”) on 9 February 2022 to establish and operate an ambulatory care centre (“ACC”) in Setia Alam (“Joint Venture Transaction”). For the purpose of the Joint Venture Transaction, a joint venture vehicle, Setia City Healthcare Sdn Bhd, has been incorporated. It will be the SP Setia Group’s first foray in the ACC business.
 
The Joint Venture Transaction is conditional upon certain conditions precedent being satisfied or waived.
 
The S P Setia Group’s business includes property development, construction, infrastructure, wood-based manufacturing and trading, while Qualitas operates several ACCs and offers specialist and surgery services in wellness, diagnosis, treatment and rehabilitation.
 
Skrine acted as legal counsel for Setia HC Ventures on the Joint Venture Transaction. To’ Puan Janet Looi (Partner) and Sheba Gumis (Partner) led the Joint Venture Transaction supported by Partner Jesy Ooi (Real Estate Practice Group), Partner Tan Shi Wen (Competition Practice Group) and Senior Associate Grace Teo Shi Kay.
 
Media coverage:

https://www.thestar.com.my/business/business-news/2022/02/10/s-p-setia-makes-foray-into-healthcare-sector
theedgemarkets.com/article/s-p-setia-ventures-healthcare-industry
businesstoday.com.my/2022/02/09/s-p-setia-partners-qualitas-in-inaugural-foray-into-healthcare/
https://focusmalaysia.my/how-s-p-setia-complements-its-core-biz-with-provision-of-ambulatory-care-service/