IHH rises on report of stake buy in India’s Global Hospitals

IHH rises on report of stake buy in India’s Global Hospitals
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KUALA LUMPUR (Aug 5): Shares of IHH Healthcare Bhd rose in late morning trade today after it was reported in Mumbai that its unit Parkway Hospital had acquired a 74% stake in Hyderabad-based Global Hospitals.

At 11.25am, IHH Healthcare rose 0.66% or 4 sen to RM6.10 with 729,000 shares done.

The Economic Times of India reported that the healthcare chain had bought the stakes of private equity investor Everstone Capital, Anand Rathi Capital Advisor and some individual investors in the unlisted chain specialising in liver transplants.

Citing two people with direct knowledge of the deal, the report said the rest of the 26% stake will continue to be owned by Global Hospitals founder Dr K Ravindranath.