IHH Healthcare receives shareholders’ approval to acquire Prince Court

KUALA LUMPUR, Dec 9 — IHH Healthcare Bhd hopes to complete its proposed acquisition of the Prince Court Medical Centre in the first quarter of 2020, following the strong approval obtained from its shareholders at an extraordinary general meeting today.

In a statement, the healthcare provider said over 99.99 per cent of non-interested shareholders and proxies voted in favour of the conditional share purchase agreement valued for a cash consideration of RM1.02 billion.

Joe Sim, chief executive officer, Malaysia Operations Division said Prince Court would empower IHH to bring its best-in-class care and outcomes to even more patients in Malaysia and abroad.

“With a broader network and stronger cluster of specialised tertiary hospitals in the Klang Valley, supported by a deeper clinical talent pool, IHH can offer a wider array of services and take on more complex cases.

“This will make our facilities even more compelling for both local and foreign patients, and further reinforces Malaysia’s attractiveness as a medical travel destination,” he said.

Strategically located in the Golden Triangle of Kuala Lumpur, Prince Court is a 277-licensed bed private healthcare facility offering a wide range of services, including burns management, cancer, gastrointestinal diseases, interventional cardiology, in vitro fertilisation, nephrology, occupational health, orthopaedic, and rehabilitation medicine.

IHH said Prince Court is a profitable operation that is expected to enhance the group’s revenue and income stream, and contribute to its long-term growth. — Bernama