Lablink is a wholly-owned subsidiary of KPJ, one of the country’s largest hospital groups, and already has 25 laboratories in Malaysia. The company offers services ranging from diagnoses of existing diseases (molecular tests, bacteriology, etc.) to prevention (infectious diseases, allergies, etc.). It is also seeking to develop a range of tests with higher added value, in particular for the analysis of highly infectious diseases. Lablink is accredited by the highest standards in the industry.
This investment is PROPARCO’s first operation in Malaysia and is part of an overall fundraising of over USD 30m with the investment fund Quadria Capital, a leading player specialized in the health sector. This equity investment will support the company’s growth and regional development.
This project is in line with PROPARCO’s development mandate and will improve access to health services in the subregion: it will reduce the current imbalance between insufficient healthcare provision and strongly growing demand, while improving the quality of healthcare offered, thanks to the creation of 14 new medical analysis laboratories by 2021. These new laboratories will increase Lablink’s total capacity to 2.3 million tests and diagnostics a year.
With routine tests, which cost about USD 1 and semi-specialized tests at USD 2, Lablink provides the poorest populations with access to its services.
Furthermore, this project will contribute to supporting job creation. Indeed, the company intends to employ 500 people over the next 5 years, i.e. 75 more than currently. 68% of positions are held by women and this trend will be maintained over the next 5 years.
The project will consequently contribute to SDGs n° 3 (Good health and well-being) and n° 8 (Decent work and economic growth).