Malaysia-Based IHH Healthcare to Completely Acquire Ravindranath GE Medical Associates for INR 740 Cr

IHH Healthcare Bhd, based in Malaysia, plans to pay Rs 740 Cr for the remaining stake acquisition. This will be facilitated through IHH Healthcare's wholly-owned subsidiary, Gleneagles Development.

Malaysian company IHH Healthcare Bhd announced it would buy Dr. Ravindranath Kancherla's remaining stake in Ravindranath GE Medical Associates Private Ltd. (RGE) for INR 740 Cr. 

IHH Healthcare's wholly-owned subsidiary, Gleneagles Development, entered the agreement for this acquisition.

Anurag Yadav, CEO of IHH Healthcare India, sharing his thoughts said, "This latest investment is a significant milestone in IHH's expansion strategy and long-term goals in India. The acquisition strengthens our position in the country."

This transaction is anticipated to be completed by the concluding quarter of 2023, as stated by the company. 

Ravindranath GE Medical Associates Private Ltd. (RGE), founded by Dr. Ravindranath, is the entity that owns and operates Gleneagles Global Hospitals. This hospital chain oversees six multi-super-specialty hospitals in Hyderabad, Chennai, Bengaluru, and Mumbai.

These facilities collectively offer around 1,500 beds along with associated medical infrastructure.

IHH Healthcare's Group chief strategy and business development officer, Ashok Pandit, underlined the significance of this move by stating, "This transaction reflects our continued commitment and strategic focus in the healthcare sector in India."

This development aligns with IHH Healthcare's strategy to further solidify its presence and activities within the healthcare domain in India. 

Established in 1974, IHH Healthcare Berhad is a prominent global private healthcare entity specialising in premium health services. 

Among Southeast Asia's largest private healthcare groups, it has an extensive presence in Malaysia, Singapore, Turkey, India, Greater China (including Hong Kong), and Central and Eastern Europe.

Across 10 countries, IHH Healthcare operates 80 hospitals with over 65,000 employees.

The company is dual-listed on Bursa Malaysia and the Singapore Exchange, reflecting its substantial influence in the healthcare sector.