KPJ Healthcare Bhd, via its wholly-owned subsidiary Kumpulan Perubatan (Johor) Sdn Bhd, is buying 60 per cent of Selangor Medical Centre (SMC) for RM48 million.
In a statement to Bursa Malaysia yesterday, KPJ said the purchase is in line with the group’s objective to expand its network where private healthcare is in demand.
KPJ said the group is confident that prospects from the healthcare industry will remain promising based on the strong encouragement from the Government in promoting health tourism.
Incorporated in 1991, the medical centre, which is located in Shah Alam, had reported a RM2.22 million net profit on the back of a RM57.44 million revenue for its financial year ended December 31 2004.
To date, SMC has an authorised and issued share capital of RM50 million comprising 50 million shares and RM40 million comprising 40 million shares respectively.
The acquisition comprises 24 million ordinary shares of SMC at RM1 each from six vendors. (Business Times)
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