Malaysia's IHH Healthcare acquires 51% in Hyderabad’s Continental Hospitals for Rs282 cr

24 Mar 2015

1

Malaysia's IHH Healthcare Bhd, Asia's largest hospital operator, yesterday acquired a 51-per cent stake in Continental Hospitals for Rs282 crore ($45.4 million), valuing the Hyderabad-based super specialty hospital at around Rs550 crore.

Hyderabad's Continental HospitalsThe deal comes one week after Singapore's regulator blocked IHH's plan to buy diagnostics services provider RadLink-Asia Pte Ltd from Fortis Healthcare for $109 million over competition concerns.

The acquisition was carried out through IHH's Singapore-based hospital unit Parkway Holdings, which also holds a 13 per cent stake in India's largest hospital chain, Apollo Hospitals.

Parkway Hospitals Singapore is a wholly-owned subsidiary of Parkway Pantai Ltd, which in turn is a subsidiary of IHH.

"Our partnership with Apollo is strategic and long term, but we are also seeing how we can get a national footprint of picking up strategic assets which fit with our areas of strength which are tertiary and quaternary care," said Ramesh Krishnan, head of Middle East, South Asia operations for Parkway Pantai.

Established in 2013 by Dr. Guru N Reddy, Continental Hospital is a 750-bed super specialty hospital.

 

 

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more