Photo shows the GenesisCare National Office located at New South Wales, Australia. (Photo : Facebook)
Dan Collins, the chief executive officer of cancer and cardiac healthcare group GenesisCare, sizes up the booming Chinese market and already has a plan for its business for the next 30 to 40 years.
Collins, attending the Australian Financial Review's Business Summit, said, "Our capital structure allows us to settle into that and actually think and plan. We still act very quickly, but we are doing some really long-term planning."
China Resources Holdings Co Ltd., a group of companies in a wide variety of businesses in Hong Kong and China, and Macquarie Group, a global investment banking and diversified financial services group, acquired GenesisCare from majority owner KKR & Co last July year for $1.7 billion.
GenesisCare is the largest provider of cancer and cardiac care in Australia. The health group also has operations in Britain and Spain, and is currently pushing hard into China and the Southeast Asia for expansion.
"China Resources have been outstanding in connecting us into excellent opportunities and relationships but also helping us avoid some potential pitfalls that we might not have spotted on our own," said Collins. "Macquarie have been terrific, too."
According to Collins, a long-term view is necessary when looking at the healthcare sector of China. He said that Chinese hotel executives and government officials have matured as they currently focus on building healthcare services.
Collins said: "I think what China will end up doing is missing all the bad bits of Western healthcare and going straight to the most efficient model. They are going to rapidly scale in healthcare services in a way people can't comprehend."
GenesisCare is just setting its own pace and being methodical right now to ensure that it doesn't get too swept up in the rapid rise of the Chinese health sector.
