KUALA LUMPUR (Oct 29): IHH Healthcare Bhd's group head of operations and integrations Ashok Bajpai (pictured) has been appointed by Gleneagles Development Pte Ltd to serve as the new chairman of Continental Hospitals in India.

In a statement today, IHH said Ashok's chairmanship in Continental Hospitals took effect on Oct 24, 2019.

IHH owns 62.23% in the healthcare group.

Ashok will take over from Dr Lim Suet Wun, who will be retiring from the board of Continental Hospitals after three years as its chairman. Lim is also IHH's group chief operating officer.

"As chairman of Continental Hospitals, Mr Bajpai will work with the rest of the board of directors to guide and advise the management team as it delivers on its business strategy, while ensuring alignment and continual improvement in its service development, physician engagement and clinical quality," the statement read.

"He brings with him close to 30 years of experience with leading multinationals across South Asia and Asia Pacific, including in other hospital groups. He will fulfil this role concurrently with his latest appointment with Continental Hospitals," it added.

At IHH, Ashok is responsible for integrating the group's business processes by leading cross-functional and organisational teams across IHH to ensure alignment while building a culture of accountability.

Prior to joining IHH in June 2019, Ashok was the managing director of Indraprastha Medical Corporation Ltd New Delhi since 2019.

Ashok also served as managing director of G4S South Asia, and carries with him close to 30 years of experience working in government and leading multinationals in India and the Asia Pacific region.

"As part of IHH's commitment to growing in India, it is top priority for us to work towards integrating, improving and learning from Continental Hospitals' operations," said Ashok.

"We thank Dr Lim Suet Wun for his invaluable work in integrating the hospital into IHH's fold during his tenure as chairman. We continue to see great opportunities in working together with our partners to scale new heights of clinical excellence and patient service," he added.

Continental Hospitals operates a Joint Commission International (JCI)-accredited 750-bed facility in Hyderabad, offering multi-specialty tertiary and quaternary care. It is also known for a leading position in all major specialties on offer, and for its excellent trauma care abilities.

On Oct 23, The Economic Times of India reported that IHH was considering selling its  stake in Continental Hospitals as well as its 74% interest in Global Hospitals in order to fund the expansion of its other India-based operator Fortis Healthcare Group.

In response, IHH, on Oct 25, said there had been discussions on the strategic directions of the two assets, but that no definitive decisions had been made as yet. It added that any proposal would have to be decided by the board and its subsidiaries, and that it will make the appropriate announcement to Bursa Malaysia, if deemed as material. 

Shares of IHH rose one sen or 0.17% to close at RM5.73 today, giving it a market capitalisation of RM50.27 billion.