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Malaysia's IHH sells 30% of unit to Chinese insurer

 14-Nov-16, Nikkei Asian Review 

IHH Healthcare, the largest Malaysia-based hospital operator by market capitalization, has divested a 29.9% stake in its indirectly held unit PCH Holding to Chinese firm TK Healthcare Investment. Proceeds from the transaction will go towards financing PCH's future growth.

Malaysias IHH sells 30pc of unit to Chinese insurer (c) IHH Healthcare

Image: IHH Healthcare

TK Healthcare Investment is a special-purpose vehicle of Beijing-based TIG, or formerly known as Taikang Life Insurance, a diversified group with core businesses in insurance, asset management, and health care, including elder care. PCH, formerly known as Parkway China Holding, holds a chain of clinics and hospitals in China.

Public Investment Bank's analyst Nor Asilah Amran noted "the partnership gives potential opportunities to the group to build a stronger platform of growth in China through collaboration in the area of health care and insurance."

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