Integrated healthcare provider IHH Healthcare has completed the acquisition of Island Hospital, a 600-bed facility in Penang, expanding its presence in Malaysia.
Valued at approximately MYR3.9bn ($890m), the deal is the company’s strategic move to enhance healthcare quality and services across the nation, particularly in the northern region.
The acquisition expands IHH Healthcare's Malaysian portfolio to 18 hospitals, including 11 Pantai Hospitals and four Gleneagles Hospitals.
IHH Healthcare group chief corporate officer Ashok Pandit said: “We are thrilled to welcome Island Hospital as the newest member of IHH Healthcare. With its strong reputation for clinical excellence and appeal to international patients, Island Hospital significantly enhances our leadership in healthcare and medical tourism in Malaysia.
“This acquisition underscores our commitment as a group to elevating care and outcomes across our global network while creating sustainable value for stakeholders through strategic, accretive investments. Together with the talented team at Island Hospital, we will draw on our deep expertise and experience to deliver even better patient experience and clinical quality for more patients.”
The Island Hospital is a private establishment known for its patient care and a wide range of services across nine centres of excellence, with nearly 120 specialists.
The hospital facilitates orthopaedics, cardiology, oncology, gastroenterology, and general surgery and attracts approximately one in three inbound patients to Malaysia.
The acquisition not only brings Island Hospital's clinical expertise into IHH's network but also opens up opportunities for development within the hospital's valuable landbank.
This strategic move aims to future-proof IHH's growth in the region and cater to the increasing healthcare demands of both local and international patients while supporting the Malaysian Government's vision to become a leading hub for medical tourism.
IHH Healthcare Malaysia CEO Jean-François Naa said: “The addition of Island Hospital to our IHH Malaysia network marks an important milestone in our commitment to enhancing the quality and accessibility of care in Malaysia.
“Building on our proven track record of operational excellence and successfully integrating acquired assets, we will further strengthen Island Hospital’s capabilities by introducing more advanced treatments and improving patient experiences. Our focus remains on providing exceptional care to both local and international patients while contributing to Malaysia’s growing prominence as a medical tourism hub.”
IHH Healthcare announced its plans to acquire Island Hospital in September.
