Friday 19 Apr 2024
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KUALA LUMPUR (Mar 13): IHH Healthcare Bhd has called off a S$137 million (RM346.53 million) deal to acquire Singapore healthcare provider Radlink-Asia Pte Ltd, citing “non-satisfaction” of certain conditions stipulated in its agreement with Fortis Healthcare Singapore Pte Ltd.

In a filing with Bursa Malaysia, IHH Healthcare (fundamental: 1.65; valuation: 0.7) said the sale and purchase agreement signed by its indirect wholly-owned subsidiary Medi-Rad Associates Ltd to acquire Fortis Healthcare Singapore's entire stake in Radlink-Asia Pte Ltd has lapsed and ceased to be of effect as of today.

Radlink-Asia is Singapore’s largest provider of outpatient diagnostic imaging, nuclear medicine and leading radiopharmaceuticals. It operates four imaging diagnostic centres, including its main facility RadLink Diagnostic Imaging located within Paragon Medical along Orchard Road.

IHH Healthcare shares closed unchanged at RM5.42 today, bringing a market capitalisation of RM44.33 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)

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