Lippo makes S$103m takeover offer for Healthway Medical

Singapore

TWO weeks after buying into troubled healthcare group International Healthway Corp (IHC) through OUE, the Riadys have jumped ahead to seek control of IHC's former parent Healthway Medical Corporation through an estimated S$103 million takeover offer for Singapore's largest clinic chain. The offer could mean an exit for Healthway shareholders ahead of a potential convertible notes issue that is likely to be highly dilutive for them.

Substantial shareholder Gentle Care has made a voluntary conditional cash offer for all the shares of Healthway at S$0.042 in cash apiece.