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KPJ PLANS TO TAKE UP 51% OF SMC HEALTHCARE

The Star - PETALING JAYA: KPJ Healthcare Bhd’s wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd has proposed to acquire a 51% stake in SMC Healthcare Sdn Bhd (SMCH) from Sabah Medical Cent

07-01-2010

PETALING JAYA: KPJ Healthcare Bhd’s wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd has proposed to acquire a 51% stake in SMC Healthcare Sdn Bhd (SMCH) from Sabah Medical Centre Sdn Bhd for RM51mil.
 
In a filing with Bursa Malaysia, KPJ said its subsidiary had signed a conditional share sale agreement with Sabah Medical Centre for the proposed acquisition.

“It has also signed a management agreement with SMCH for the appointment of KPJ to manage the existing and new private hospitals of SMCH,” it said.

The acquisition will enable KPJ to expand its network of hospitals to locations where private healthcare is in demand.

KPJ said the proposed acquisition would be financed by internal funds and was expected to be completed by the first quarter of this year.



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