Parkway buys majority stake in India’s Global Hospitals
05-Aug-15, The Malaysian Insider
IHH Healthcare Bhd, through its wholly-owned subsidiary Parkway Holdings, has acquired a 74% stake in Hyderabad-based Global Hospitals Group for an equity value of Rs 1,800 crore (RM1.09 billion), Indian news agency The Economic Times reported today.
%20IHH%20Healthcare.jpg "Parkway buys majority stake in Indias Global Hospitals (c) IHH Healthcare")
Image: IHH Healthcare Berhad
The report, quoting two sources with direct knowledge of the development, said IHH Healthcare has bought Global Hospitals’ shareholdings of private equity investor Everstone Capital, Anand Rathi Capital Advisor Pvt Ltd and some individual investors.
The report stated that Global Hospitals is one of the largest healthcare providers in India with presence in cities such as Mumbai, Bengaluru, Chennai and Hyderabad.
In March this year IHH Healthcare acquired a 51% stake in Hyderabad-based Continental Hospitals. It reportedly also owns a 10.5% stake in India’s Apollo Hospitals.