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.

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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