KPJ buys Rawang Specialist Hospital for RM50.6 m

KPJ buys Rawang Specialist Hospital for RM50.6 m
Business & Markets 2013
Written by Charlotte Chong of theedgemalaysia.com
Wednesday, 17 April 2013 19:00


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KUALA LUMPUR (APRIL 17): Kumpulan Perubatan (Johor) Shd Bhd (KPJ), a unit of KPJ group, has entered a sale and purchase agreement to buy over Rawang Specialist Hospital Sdn Bhd (RSHSB).

KPJ told Bursa that the purchase price of the hospital is RM50.6 million and this should be financed from internally generated funds.

The proposed acquisition would enable KPJ Group to expand its network of hospitals, enlarge the customer base and further establish itself as a key healthcare service provider in Malaysia, KPJ said.

“Upon the completion of the acquisition, RSHSB will be a wholly-owned subsidiary of KPJSB,” its filing said.

KPJ expects to complete the acquisition by the end of the fourth quarter of 2013.

RSHSB registered an audited loss after tax of RM128,042 and audited net current liabilities of RM9 million for the financial year ended March 31, 2012.

Currently, Optimax Healthcare Services Sdn Bhd is holding 56% of RHSB’s shares, MITRAJAYA HOLDINGS BHD [] and Wilayah Kontact Sdn Bhd each holds 20% shares of RHSB while Registec Sdn Bhd has a 4% shares in RHSB.