IHH: Acquiring Singapore’s Radlink

IHH Healthcare Bhd is acquiring Radlink-Asia Pte Ltd from Fortis Healthcare Singapore Pte Ltd for RM346.5mil.

The company said its indirect wholly-owned subsidiary Medi-Rad Associates Ltd had entered into an agreement with Fortis Healthcare to acquire 100% equity interest in Radlink.

“The purchase consideration is subject to transactional adjustments which will only be determined upon completion of the proposed acquisition. The completion of the proposed acquisition is subject to satisfaction of certain conditions precedent, which include the Competition Commission of Singapore making a favourable decision in respect of the deal,” it said in a filing with Bursa Malaysia yesterday.

Radlink is an investment holding company and its principal activity (through its subsidiaries) is the provision of healthcare services including the provision of outpatient diagnostic and molecular imaging services in Singapore.

The proposed acquisition is not expected to have any material effect on the earnings or net assets of the IHH group for the current financial year ending Dec 31.

IHH is the second largest hospital group in the world. It operates 37 hospitals with a combined capacity of more than 6,000 beds, employing more than 25,000 people.

It is on a roll to expand its presence in high-growth markets including India, China, ASEAN and the Middle East.

And with its Turkish partnership through Acibadem Holding, IHH is also eyeing to tap into central eastern Europe, central Asia and north Africa.

/theSTAR 13-09-2014

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