India-based Columbia Asia, hospital chain operator, said it has raised $101 million (Rs 672 crore) from Japanese trading and investment firm Mitsui & Co. Ltd.
The company said in a statement that it will use the funds to expand its network of hospitals across Asia, including several current development projects. It will also open its first facility in Africa next month, a multispecialty clinic in Kenya’s capital Nairobi, under the new Columbia Africa brand.
Mitsui said that Columbia Asia has proven over 20 years that it can enter new markets and develop high-quality hospitals that meet the needs of the emerging middle class.
In 2016, Mitsui invested in U.S. dialysis chain operator DaVita Care Pte. Ltd.