By Sharen Kaur
sharen@nstp.com.my
Published in NST on January 25, 2012
KHAZANAH Nasional Bhd, via its healthcare unit Integrated Healthcare Holdings Sdn Bhd (IHH), will enter new markets like the Middle East, Eastern Europe and Russia in a bid to become the world’s largest healthcare service provider.
Khazanah’s existing portfolio of healthcare assets through IHH includes Parkway Holdings Ltd, Pantai Holdings Bhd and International Medical University.
IHH has presence in Malaysia, China, India and Singapore. In India alone, it has an 11.2 per cent stake in Apollo Hospitals.
The government investment arm has, via IHH, acquired 60 per cent of Acibadem Saglik Yatirimlari Holding A.S. (ASYH) from Acibadem
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Khazanah also bought another 15 per cent direct stake in ASYH from another party.
ASYH owns 92 per cent of Acibadem Saglik Hizmetleri ve Ticaret A.S, a leading private healthcare service provider in Turkey,
with 14 hospitals and nine outpatient centres in its portfolio.
“This is not structured as a one-off deal but an opening of a new chapter between all the parties concerned,” said Khazanah managing director Tan Sri Azman Mokhtar at the exchange of documents here yesterday, in conjunction with the completion of the Acibadem acquisition.
The acquisition was paid by a combination of cash and newly-issued IHH shares, in a deal worth about RM3.7 billion.
The Aydinlar family and Abraaj Capital have emerged as shareholders of IHH, with 4.2 per cent and 7.1 per cent stakes respectively.
Aydinlar and Omar Lodhi of Abraaj will sit on the board of IHH.
Khazanah, via its wholly-owned special purpose vehicle (SPV) Pulau Memutik Ventures, will retain a 62.1 per cent stake in IHH, while Mitsui Co via its SPV, MBK Healthcare Partners Ltd, will own a 26.6 per cent stake.
Aydinlar told reporters at a press conference that Acibadem is looking at expanding its business worldwide, especially in the Middle East, Eastern Europe and Russia.
“We are currently among the largest healthcare providers in the world in terms of revenues and the number of beds.
Together with Khazanah and the other parties we will aim for greater heights,” he said.
Aydinlar told reporters at a press conference that Acibadem is looking at expanding its business worldwide, especially in the Middle East, Eastern Europe and Russia.
“We are currently among the largest healthcare providers in the world in terms of revenues and the number of beds.
Together with Khazanah and the other parties we will aim for greater heights,” he said.
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