TH Group Bhd buys Nilai Cancer Centre
TH Group Bhd said it has received approval from the Securities Commission for its proposed acquisition of Asiaprise Biotech Sdn Bhd, which owns the Nilai Cancer Institute (NCI), Malaysia’s first private oncology specialist hospital.
TH Group said it was buying Asiaprise for RM43mil to be satisfied by RM9.7mil in cash and the issuance of 30.2 million new TH Group shares at RM1.10 each.
“The acquisition of NCI marks TH Group’s entrance into the healthcare industry, making it our fourth core business,” said group managing director Lei Lin Thai in a statement. The group’s other core activities are plantation, contracting and timber extraction.
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