Operations are targeted to begin in September, Bernama reported.

Black Group chief investment officer Alan Lee said the facility has been dubbed “Meditel”.

It will integrate luxury hospitality with specialised medical services such as anti-ageing treatments, regenerative medicine and cell therapy.

“It is not a traditional hospital but a high-end facility catering to medical tourists and wellness seekers,” he said at a press briefing today.

Lee said they will acquire a commercial property initially intended for high-end serviced apartments. It will be repurposed into a medical hotel.

“This investment is not just about financial commitment. It is also about contributing to Malaysia’s development, creating jobs, and enhancing the quality of healthcare and hospitality services.

“We believe this project will set a new benchmark for the industry and strengthen Malaysia’s position as a leading destination for medical tourism in the region.”

Lee cited the country’s vast market and ample resources as key factors in their investment decision.

“It’s simple return on investment (ROI), which is why we chose Malaysia.

“Moreover, the Malaysian government has always been highly positive and supportive, particularly towards tourism, especially medical tourism,” he said.

Last month, Black Group acquired Black Diamond Asset Management Sdn Bhd, a Malaysian firm with expertise in the local property market, as part of its expansion strategy in Malaysia, focusing on real estate acquisitions and the biotech sector.