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The donation has been provided by the Hamon Charitable Foundation, which has also contributed over $135m for UT Southwestern so far.
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The commencement of the new two-year hospital development project is expected to take place by mid-2025.
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TrueBusiness will integrate its 5G capabilities with Intel's AI technologies for developing seven new healthcare solutions.
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The two medical centres will be rebranded to reflect the partnership.
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The deal will establish a combined entity that will be effective from 1 October.
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The deal will integrate Island Hospital into IHH's portfolio, expanding the company's clinical capabilities in Penang.
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The company will use the funding to develop its technology and services, which currently support more than 50,000 patients.
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