The Business Times
business-time-50

IHH Healthcare plans RM3.9 billion cash purchase of Penang’s Island Hospital, expects it to be EPS accretive in 2026

IHH says Island Hospital will add 600 beds and yield potential synergies, given that it will be running 3 hospitals on the island

google-preferred-sourceAdd BT as a preferred source
Megan Cheah

Megan Cheah

Published Wed, Sep 4, 2024 · 05:50 PM — Updated Wed, Sep 4, 2024 · 09:43 PM
    • Dr Prem Nair, group chief executive of IHH Healthcare, says: "With the addition of Island Hospital, you will see more than one in three medical tourists utilising the IHH group of hospitals in Malaysia.”
    • The Peel Wing of Island Hospital, which is set to be IHH Healthcare’s 18th hospital in Malaysia and third in Penang.
    • Dr Prem Nair, group chief executive of IHH Healthcare, says: "With the addition of Island Hospital, you will see more than one in three medical tourists utilising the IHH group of hospitals in Malaysia.” PHOTO: IHH HEALTHCARE
    • The Peel Wing of Island Hospital, which is set to be IHH Healthcare’s 18th hospital in Malaysia and third in Penang. PHOTO: IHH HEALTHCARE

    INTEGRATED healthcare provider IHH Healthcare ’s indirect wholly-owned subsidiary Pantai is proposing to fully acquire Island Hospital in Penang, Malaysia, for RM3.9 billion (S$1.17 billion) in cash, the group announced on Wednesday (Sep 4).

    The deal entails Pantai acquiring the full equity interest in the hospital, comprising 20 million shares, from Comprehensive Care, a company majority controlled by private equity firm Affinity Equity Partners.

    In addition to the 600-bed hospital, Island Hospital comes with vacant land for development valued at RM223.4 million.

    IHH Healthcare

    TRENDING NOW

    Handled passively, satellite connectivity becomes a service that the telco distributes, while somebody else sets the economics.

    When every phone becomes a satellite phone, what happens to Asia’s telcos?

    The company says the disputes do not cast significant doubt on its ability to continue as a going concern.

    Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes

    Under the Philippines’ new policy, up to four EV models will be provided with as much as 15 billion pesos each in fiscal support, in the form of tax payment certificates.

    Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry

    The planned DayOne data centre is expected to be the city-state’s first to feature on-site solid oxide fuel cell power generation.

    DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More