Malaysia-based healthcare firm IHH Healthcare Berhad announced that its indirect wholly owned subsidiary Gleneagles Development has purchased a 51% interest in India-based Continental Hospitals for MYR166.73m ($45.4m).
Located in the southern Indian city of Hyderabad, the facility is a 750-bed super speciality hospital.
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The latest deal emerges after Singapore’s Competition Commission halted IHH’s plan to acquire a local unit of India’s Fortis Healthcare for MYR346.5m ($94m), reported Reuters.
Established in March 2013, the hospital provides more than 30 specialties, including services in cardiovascular, gastroenterology and liver, neurosciences, orthopaedics, spine and joint reconstruction.
The hospital also provides services in cosmetic and reconstructive surgery, kidney diseases and renal transplant, trauma, minimally invasive surgery, transfusion medicine and immunohaematology.
The facility’s other services include anesthesiology, dermatology, rheumatology and pulmonary and sleep disorders.
IHH Healthcare owns Parkway Pantai, claimed to be the largest private hospital operator of South East Asia and the International Medical University in Kuala Lumpur.
It also owns a majority stake in Turkish private healthcare firm Acibadem Healthcare Group.
With 25,000 employees, the group carries out operations in Singapore, Brunei, China, Hong Kong, Macedonia, Malaysia, India, Iraq, Turkey, Vietnam and the UAE.
