IHH Healthcare (IHH)

IHH Healthcare acquires Island Hospital in Penang for RM3.9 bil  - THE EDGE SINGAPORE

Property

IHH Healthcare completes acquisition of Island Hospital in Penang for RM3.9 bil

Island Hospital is currently the largest private hospital in Penang, which offers various medical services across nine Centres of Excellence and is supported by approximately 120 specialists.

Global Economy

Briefs: CLI aims to more than double investments in India by 2028; Ennoconn buys 53.38% stake in NeraTel

In other news this week, Australia's regulator approves network-sharing deal between Singtel's Optus and TPG Telecom.

IPO

IHH Healthcare’s indirect subsidiary to withdraw IPO plans

As at 3.33pm, shares in IHH are trading flat at $1.74.
Medical group Foundation Healthcare raises $400 million in nine months, projects speedier growth in 2024 - THE EDGE SINGAPORE

Healthcare

Medical group Foundation Healthcare raises $400 mil in nine months, projects speedier growth in 2024

Besides Seatown, other investors include East Ventures and EMTEK

Results

IHH Healthcare doubles earnings to RM532.1 mil for 3QFY2023

IHH benefited from higher patient volumes and improved case mix during the quarter.

Company in the news

IHH Healthcare's Fortis announces divestment of Chennai hospital for INR1.28 bil

The divestment includes the business operations of Malar Hospital as well as its related real estate assets.

M&A

IHH Healthcare’s indirect wholly-owned Pantai Holdings acquires Bedrock Healthcare for RM245 mil

The acquisition is expected to be completed by the first half of 2024.

Tourism

The resurgence of medical tourism

As borders reopen, private healthcare providers are experiencing a boost to their businesses & supporting growth to other sectors
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