IHH Healthcare $194 million acquisition of 73.4% of Global Hospitals

Overview:

• IHH Healthcare, through subsidiary Gleneagles Development has acquired 73.4% of Ravindranath GE Medical Associates, better know as Global Hospitals.
• The deal was enacted through a combination of secondary purchases from existing investors in Global Hospitals and subscription to a primary tranche.
• Ravindranath run a chain of hospitals under the Global Hospitals brand in Hyderabad, Chennai, Bangalore and Mumbai and has 1100 operational beds.
• IHH is a Malaysian healthcare provider. The deal will mean it has 8000 beds across its various sites.
• The hospitals will be brought under the Gleneagles brand following the acquisition.
• CIMB Securities and ICICI Securities acted as the financial advisers to IHH. Veda Corporate Advisers acted for Global Hospitals.

Katrin Kostadinova - Data analyst