bullish
IHH Healthcare (IHH MK): Recent Acquisitions Are Positive for Future Growth; Strong 1Q23 Performance
359 Views28 Aug 2023 18:56
SUMMARY
- IHH Healthcare (IHH MK) will acquire remaining stake in Indian hospital chain operator Ravindranath GE Medical Associates for RM415M. The transaction is expected to close by 4Q23.
- IHH is acquiring Bedrock Healthcare for RM245M. Bedrock operates 82-bed hospital in the Malaysian state of Sarawak and has earmarked a vacant land for the construction of a 200-bed hospital.
- In 1Q23, IHH reported highest ever quarterly revenue of RM5.1B, representing 24% YoY growth on higher patient volume across key markets. Net income nearly triples to RM1.4B.
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Rising
Tina Banerjee
Global Healthcare Analyst
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