Bandar Sunway, 27 February 2026 – Sunway Healthcare Group officially launched its IPO prospectus, positioning the listing as a pivotal milestone in its transformation into one of Southeast Asia’s leading integrated healthcare platforms.
At the launch event, founder and chairman Tan Sri Dr Jeffrey Cheah reaffirmed Sunway’s founding mission of nation building through quality education and healthcare, while Group President of Healthcare, Dato’ Lau Beng Long, outlined the operational and financial strength underpinning the listing.
Built Through Crisis, Guided by Core Values
Tan Sri Jeffrey reflected on the group’s early years, recalling how Sunway Medical Centre was conceived during the Asian Financial Crisis. Originally budgeted at RM120 million, the project was scaled down to RM80 million in 1997 amid severe financial constraints.
“Despite the challenges, we did not set out merely to build a hospital, we set out to build an institution,” he said, emphasising Sunway’s enduring core values of integrity, humility and excellence.
He credited long-time partner GIC for helping Sunway recapitalise and recover during the crisis, noting that the renewed partnership ahead of the healthcare listing signals confidence in the group’s next growth phase.
From 50 Beds to Malaysia’s Largest Private Tertiary Hospital
Dato’ Lau Beng Long detailed Sunway Healthcare’s operational journey. When Sunway Medical Centre opened in 1999, it began with just 50 beds. Today, the flagship facility operates 848 licensed beds, making it Malaysia’s largest private tertiary hospital.
The group now operates five major hospitals with a combined 1,805 licensed beds and more than 700 consultant specialists. In 2025 alone, the hospitals treated over 1.6 million patients, including more than 200,000 international patients.
Sunway Medical Centre recently improved its global ranking to 138th in Newsweek’s World’s Best Hospitals 2026 list, and was named Malaysia’s top private hospital for the second consecutive year.
Proven Expansion Model and Rapid Profitability
Between FY2022 and FY2024, Sunway Healthcare’s revenue grew from RM1.5 billion to RM1.9 billion, reflecting a 32% compound annual growth rate (CAGR). EBITDA rose from RM343 million to RM570 million, representing a CAGR of 70%.
For the 11 months ended November 2025, the group recorded approximately RM2.0 billion in revenue, up 14% year-on-year, with EBITDA of RM447 million.
Dato’ Lau highlighted that newly opened hospitals achieved EBITDA positivity within approximately 12 months of operation, with Sunway Medical Centre Damansara turning EBITDA positive in just eight months and reaching profitability within 30 months.
“This is not by chance. We have mastered our hospital operating model and are confident in replicating it,” he said.
Expansion Plans to Double Capacity
Looking ahead, the group plans to focus on brownfield expansion from 2026 to 2028 by optimising and expanding capacity at its existing five hospitals. Three new greenfield tertiary hospitals, located in Iskandar Puteri, Seberang Jaya and Putrajaya (via a joint venture), are also in the pipeline.
Together, these developments are expected to nearly double the group’s capacity by 2032.
Sunway Healthcare will further strengthen super-specialty services such as organ transplants, cell-based therapies, advanced nuclear medicine diagnostics and robotic-assisted surgery, while expanding digital health and AI-driven medical solutions.
Integrated Ecosystem and Medical Tourism Edge
Unlike standalone hospitals, Sunway’s facilities are embedded within Sunway Group’s integrated townships, offering a one-stop ecosystem covering treatment, accommodation, transport and leisure facilities, a structural advantage in attracting medical tourism flows.
The group intends to expand overseas marketing offices, agent networks and insurance partnerships to strengthen its position in the regional medical tourism market.
Education–Healthcare Synergy
Sunway’s healthcare expansion is supported by Sunway University and its medical and nursing programmes, governed under the not-for-profit Jeffrey Cheah Foundation, which has endowed over RM3 billion and awarded RM967 million in scholarships to date.
This integration supports workforce sustainability amid Malaysia’s shortage of medical professionals, a key challenge facing the healthcare sector.
Sustainability and ESG Commitment
Dato’ Lau emphasised that sustainability is embedded in Sunway Healthcare’s strategy. Initiatives include waste management improvements, plant-based meal options, green hospital design, carbon reduction efforts and community health outreach programmes targeting cancer, diabetes and hypertension awareness.
The group is working towards long-term net-zero ambitions while ensuring operational resilience and patient care quality.
A New Corporate Chapter
“This IPO is not the finish line, it is the beginning of a new corporate chapter,” Dato’ Lau said, thanking healthcare professionals, investors and partners for their continued support.
Tan Sri Jeffrey concluded that Sunway Healthcare aspires to become “the Mayo Clinic or Johns Hopkins of the East,” positioning Malaysia as a regional hub for healthcare excellence and medical education.
As the listing approaches, the market will be watching closely whether Sunway Healthcare can translate its proven operational model into sustained regional expansion and enhanced shareholder value.
