IHH to buy 73% stake in India hospital chain

PETALING JAYA: IHH Healthcare Bhd will be taking up a 73.4% stake in an India-based private hospital chain for 12.84 billion rupees (RM819mil) to expand its operations in the world’s second-most populous country.

In a statement, IHH said it had yesterday signed definitive agreements via its indirect wholly-owned subsidiary Gleneagles Development Pvt Ltd to take up the majority stake in Ravindranath GE Medical Associates Pvt Ltd (Global Hospitals).