IHH Healthcare buys 73% stake in Global Hospitals for $274m

It has over 1,100 operational beds in India.

Mainboard-listed IHH Healthcare will purchase a 73.4% stake in India's Global Hospitals for $274m (INR 12.84B).

IHH Healthcare said that the consideration will be paid in cash and will not have any effect on IHH’s issued and paid-up share capital and substantial shareholders’ shareholdings.

Global Hospitals is a chain a chain of tertiary and quaternary care hospitals in India having facilities across Hyderabad, Chennai, Bangalore and Mumbai with approximately 1,100 operational beds in total.

IHH Healthcare said that the deal will have no material effect on the earnings, net assets or gearing of IHH for the financial year ending 31 December 2015.