Singapore, 28 September, 2006 - Far East Organization has signed-on a major radiology clinic operator at its upcoming $257 million Novena Medical Center at Square 2 above the Novena MRT Station. Medi-Rad is set to be the resident radiology clinic at Novena Medical Center when the latter is completed in mid-2007.

Medi-Rad will lease over 6,000 sq ft of space on the eighth floor of Novena Medical Center, which comprises four levels of medical suites from the eighth to eleventh floor of Square 2.

Far East Organization's Executive Director (Property Services), Mr G L Yap, believes that the entrance of the renowned radiology service provider will augment the suite of services and facilities at Novena Medical Center to better serve the needs of medical specialists practising at the medical center and their patients.

Mr Yap says, "Medi-Rad will give medical professionals at Novena Medical Center access to excellent radiology services conveniently and quickly. In turn, patients will also receive swift and quality medical care."

"In our endeavour to build Novena Medical Center into a center of excellence in the provision of quality healthcare services, we are privileged to receive the support from various healthcare providers in the public and private sectors with whom we have forged strategic partnerships. Our latest partnership with Medi-Rad is an extension of this collaborative effort. Medi-Rad with its well-established clinical infrastructure, state-of-the-art radiology equipment and impressive track record will certainly enhance the offerings of Novena Medical Center," adds Mr Yap.

Medi-Rad, a wholly owned subsidiary of Parkway Holdings Limited, operates the largest network of radiology clinics in Singapore with facilities in Mount Elizabeth Hospital and Gleneagles Hospital.

Dr Lim Cheok Peng, Managing Director of Parkway Holdings Limited says the new radiology clinic at Novena Medical Center will be a strategic addition to its stable of clinics.

"Singapore's vision to become one of Asia's leading destinations for healthcare services will see the development of a new level of clinical excellence in the country's healthcare facilities and a growing foreign patients base. Medi-Rad is constantly on the lookout for quality locations to expand our network of clinics to enable us to tap the new demands in the marketplace."

Dr Lim adds, "The Novena area is shaping up nicely to become a vibrant medical hub in Singapore. Within a small radius, there are two major hospitals and a handful of large medical centres. Medi-Rad's clinic at Novena Medical Center will allow us to add our premium services to a first-rate medical center and be part of the exciting growth that is taking place in the Novena area."

Medi-Rad will be investing $5.5 million in its latest clinic at Novena Medical Center. Says Ms Lim Poh Suan, General Manager, "We envision equipping our upcoming clinic with the latest advances in radiology technology to support the wide range of medical specialities to be housed within Novena Medical Center."

The presence of Medi-Rad is well received by medical specialists who will be setting up their practice at Novena Medical Center. Colorectal surgeon Dr Goh Hak Su says, "It's good to collaborate with Medi-Rad so that patients attending Novena Medical Center can have easy access to a high level and cutting-edge diagnostic as well as therapeutic radiological service."

Testament to the robust demand for top-quality new medical suites, Novena Medical Center has enjoyed a take-up rate of more than 70% of the 108 units released for sale. Far East Organization has set aside the remaining 37 units in the medical center for lease. This is to allow for future expansion of facilities and services to support the growing requirements of Novena Medical Center's medical specialists.

Medi-Rad is the leading radiology and imaging provider in Singapore, Medi-Rad Associates Limited provides a comprehensive range of diagnostic and therapeutic radiology services including Nuclear Medicine and PET services.

Novena Medical Center has 145 well designed and efficiently configured medical suites located over four levels. It is integrated into a commercial development Square 2 that will have five levels with over 600 trendy retail outlets, chic cafes and elegant restaurants. Square 2 has immediate passage into the Novena MRT station and will be seamlessly connected to neighbouring Novena Square. Novena Medical Center will have a direct air-conditioned link-bridge with travellators on its third level connecting to Tan Tock Seng Hospital.