KUALA LUMPUR (Sept 4): IHH Healthcare Bhd (KL:IHH) has won the bid for the Island Hospital in Penang that is owned by Asian buyout fund Affinity Equity Partners, according to sources.
It is learnt that its winning bid is around RM4 billion. The private hospital operator is expected to make an announcement on the deal later today.
It was previously reported in June that both IHH and Sunway Medical Centre were among bidders vying for the hospital that Hong Kong-based Affinity bought in June 2015.
Private equity firms CVC Capital Partners and TPG Capital had also submitted initial bids, The Edge weekly reported, citing sources. At the time, the deal was said to be worth between RM3.76 billion and RM4.7 billion.
Island Hospital is a 600-bed hospital in Penang. Founded in 1996, the hospital today has over 80 full-time specialists and treats 400,000 patients annually, according to its website.