Malaysia's IHH Healthcare open to hiking stake in Apollo
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Malaysia's IHH Healthcare Berhad, the world's second largest healthcare provider by market value ($14 billion), has recently laid its focus on India, with two big acquisitions reported in 2015. The company has reiterated its commitment to making further investment inroads in the Indian market, and has also hinted to increase is stake in Apollo Hospitals from the current 10.8% it holds in the Indian chain.
IHH has been present in India for past 10 years and has a 50-50 joint venture with Apollo Hospital Enterprise, operating Apollo Gleneagles Hospital in Kolkata, and Apollo Gleneagles PET-CT Centre in Hyderabad, besides holding a stake held in Apollo.
Earlier in the year IHH Healthcare Bhd, had acquired a majority stake in Ravindranath GE Medical Associates Pvt Ltd, which runs a super-specialty care and multi-organ transplantation hospital chain under the Global Hospitals brand, as reported by VCcircle.com. In April, it acquired 51 per cent equity stake in Hyderabad-based Continental Hospitals Ltd for about Rs 281 crore (approximately $45.4 million). Continental Hospitals has a 750-bed super specialty facility in Hyderabad.
IHH has been present in India for past 10 years and has a 50-50 joint venture with Apollo Hospital Enterprise, operating Apollo Gleneagles Hospital in Kolkata, and Apollo Gleneagles PET-CT Centre in Hyderabad, besides holding a stake held in Apollo.
Earlier in the year IHH Healthcare Bhd, had acquired a majority stake in Ravindranath GE Medical Associates Pvt Ltd, which runs a super-specialty care and multi-organ transplantation hospital chain under the Global Hospitals brand, as reported by VCcircle.com. In April, it acquired 51 per cent equity stake in Hyderabad-based Continental Hospitals Ltd for about Rs 281 crore (approximately $45.4 million). Continental Hospitals has a 750-bed super specialty facility in Hyderabad.
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