IHH buys India hospital chain

Singapore

IHH Healthcare Berhad, through its indirect wholly owned unit Gleneagles Development, agreed to acquire a 73.4 per cent stake in Ravindranath GE Medical Associates (Global Hospitals) for 12.84 billion rupees (S$273 million).

As part of the transaction, IHH will also capitalise the India-based private hospital chain with 2.65 billion rupees to fund its capital expenditure and optimise its cost of borrowing.