Lippo China Resources' stake in HMC now more than 50%

LIPPO China Resources now owns more than 50 per cent of the issued shares of Healthway Medical Corporation (HMC) following the closure of offer for the acquisition of shares in HMC on May 23.

Concurrently, GW Active (Gateway) holds S$42 million of zero-coupon convertible notes issued by HMC.

Hong Kong-listed Lippo and Gateway, a wholly owned subsidiary of Gateway Fund I, LP, jointly gave the update on Monday.

"With the backing by Lippo and Gateway, the group (Healthway) is now in a strong position to strengthen its general practitioner (GP) network and potential collaboration with specialist doctors by leveraging on Lippo's and Gateway's international network.

"Going forward, it will provide its services on a patient-centred basis with an emphasis on quality and safety, which will be the foundation of its service to clients," the two companies said.