IHH Healthcare increases majority stake in India's Gleneagles Global Hospitals

KUALA LUMPUR: IHH Healthcare Bhd through its wholly-owned subsidiary, Gleneagles Development Private Ltd, has entered into an agreement to buy out the entire remaining stake held by Dr Ravindranath Kancherla and his affiliates in Ravindranath GE Medical Associates Private Ltd (RGE) for a total purchase consideration of approximately RM415 million.

In a filing with Bursa Malaysia today, the healthcare service provider said with the transactions, IHH is seeking to strengthen RGE group’s operations and expand its leading market position as part of IHH’s commitment to the Indian healthcare sector.