MALAYSIA Tanah Tumpah Darahku


Friday, August 5, 2022

IHH Healthcare intends to sell IMU Education, IMC Education


IHH Healthcare Bhd operates about 50 private hospitals worldwide and also owns the International Medical University in Bukit Jalil as well as the International Medical College in Subang Jaya. (IMU pic)

KUALA LUMPUR: IHH Healthcare Bhd has submitted an application to the higher education ministry to obtain written approval for the disposal of IMU Education and IMC Education.

In a filing with Bursa Malaysia, the group said the application is for entering into an arrangement or agreement to sell or otherwise take action materially affecting the respective businesses of IMU Education and IMC Education.

This would result in a change in the equity participation of IMU Education and IMC Education and their board of directors.

On June 7, the healthcare group said it will be disposing of its entire stake in IMU Health Sdn Bhd as well as a hospital under construction.

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It intends to sell the stake to two separate buyers for a total initial cash consideration of RM1.35 billion.

IHH inked a conditional agreement to sell its entire 1.14 million shares in IMU Health, which ultimately operates higher learning institutions, several clinics and a dialysis centre, to Inbound Education Holdings Sdn Bhd.

In conjunction with the disposal, IMU Health’s unit IMU Education Sdn Bhd will dispose of a hospital that is still being constructed in Kuala Lumpur, along with its assets and liabilities, to Columbia Asia Sdn Bhd.

IMU Health owns 100% equity interest in IMU Education, IMC Education and IMU Healthcare. - FMT

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