PETALING JAYA: IHH Healthcare Bhd is acquiring the entire equity interest in Bedrock Healthcare Sdn Bhd (BHSB) for RM245mil.
In a filing with Bursa Malaysia, IHH said that its wholly-owned subsidiary, Pantai Holdings Sdn Bhd, had entered into a share purchase agreement with Saravita Holdings Sdn Bhd and nine individual founders to acquire BHSB.
The acquisition is expected to be completed by the first half of 2024.
BHSB operates an 82-bed hospital, Timberland Medical Centre, in Kuching, Sarawak and has earmarked a vacant land in central Kuching for the construction of a 200-bed hospital.
“The acquisition will expand IHH’s footprint to the state of Sarawak and will also allow IHH to scale up Timberland’s operations via the new hospital,” said IHH.