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
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.
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