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.
