Healthway Medical Corporation says it is setting up Healthway Specialist Centre at TripleOne Somerset which will be fully completed in several phases over a period of three years.

Upon completion of the Healthway Specialist Centre Project, the centre would occupy up to 150,000 square feet and 7 floors of TripleOne Somerset. The total investment cost of the centre is estimated to be $40 million. The first phase of project on Level 2 of TripleOne Somerset will be completed in late March 2010. This is expected to cost $2 million.

The group says it aims to develop the Healthway Specialist Centre into a one-stop world-class medical destination providing the best-of-class specialist treatments and medical diagnostics to serve patients from Singapore and around the region.

In the first phase, a team of plastic surgeons, dental surgeons and dermatologists will provide the patients with all aspects of aesthetic and plastic surgical procedures. Subsequent phases will introduce other specialist services in the centre.

Funding for phase one of the centre will come from internal financial resources and new bank borrowings. The company will update shareholders of the source of the remaining funding for the centre as and when necessary.