IHH HEALTHCARE TO DIVEST 30% INTEREST IN CHINA UNIT
PETALING JAYA: IHH Healthcare Bhd is disposing of its 29.9% stake in PCH Holding Pte Ltd to Taikang Insurance Group (TIG) for 1.1 billion yuan (RM694.9 million). In a filing with the stock exchange, IHH said its wholly owned Parkway Group Healthcare subsidiary entered into a share purchase and subscription agreements with TIG’s wholly owned subsidiary TK Healthcare Investment Ltd for the divestment. PCH is the holding entity for IHH’s mainland China portfolio of primary care clinics and greenfield hospital projects. IHH said the partnership will leverage on the strengths of IHH and TIG in the respective areas of healthcare and insurance, placing the group on a stronger growth path in China. IHH and TIG will jointly fund future projects in proportion to their shareholding.