Ramsay looking for Asian opportunities PRIVATE hospitals operator Ramsay Health Care is looking for opportunities to expand its presence in Asia. Ramsay concluded a joint-venture agreement with Sime Darby Berhad of Malaysia in July, with the aim of developing a quality portfolio of hospitals throughout Asia. Ramsay managing director Christopher Rex said on Thursday that he had been asked many times why Ramsay should not sell its hospitals in Indonesia, and what was the strategy behind those assets. Ramsay's response had been that at some time a way would be found to use the assets to enlarge Ramsay's footprint in Asia. Mr Rex said Ramsay was combining with a massive pan-Asian conglomerate with connections and a presence in almost every country in the region. He said Sime Darby was combining with a skilled and experienced global hospital operator in Ramsay. "If we can harness those two points, we really have put ourselves in a very attractive position to grow our business across the region," Mr Rex said. We've already started collaboratively to investigate other opportunities both in the countries where we (Ramsay and Sime Darby) exist but also in different markets across the region. The joint venture with Sime Darby is Ramsay's first expansion in Asia since acquiring its Indonesian hospitals in 2005. Ramsay Health Care on Thursday booked a net profit of $266.4 million for the 2012/13 financial year, up 9.1 per cent on the prior year's profit of $244.1 million. Ramsay's operations in Australia, the United Kingdom and France also had performed well, benefiting from growth in admissions, acquisitions, expansions and upgrades to facilities. Mr Rex also said on Thursday that a dispute with health insurer Medibank over payments to Ramsay's hospitals had been resolved but he declined to provide details. In fiscal 2014, Ramsay will continue its growth strategy of reinvesting in existing facilities, developing more public/private partnerships and pursuing acquisitions. The company is targeting core net profit growth of 12 to 14 per cent for fiscal 2014. Shares in Ramsay were $1.06 higher at $35.24 at 1245 AEST.