IHH Healthcare acquires Penang's Island Hospital for $891.4m

The group now operates 18 hospitals across Malaysia.

IHH Healthcare has finalised the acquisition of Island Hospital, a 600-bed private hospital in Penang, for an equity consideration of approximately $891.4m (RM3.9b)

This acquisition expands the group’s operations to a total of 18 hospitals in Malaysia, including 11 Pantai Hospitals, four Gleneagles Hospitals, Prince Court Medical Centre, and Timberland Medical Centre.

As part of the integration, IHH Healthcare plans to explore development opportunities within the hospital’s landbank to support future growth and address increasing demand from local and international patients.

Island Hospital features nine Centres of Excellence and nearly 120 specialists. The facility’s offerings include orthopaedics, cardiology, oncology, gastroenterology, and general surgery.

RM1 = $0.23