Integrated Healthcare Holdings (IHH)

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#11
IHH 'drops plan' to buy Healthscope of Australia

Prospective bidder loses interest after subject's owners lean towards IPO

Published on Apr 05, 2014


The Mount Elizabeth Novena hospital is owned by Parkway Holdings, which was bought by IHH in 2010. IHH runs 33 hospitals as well as medical centres, clinics and other health-care businesses across nine countries. -- PHOTO: IHH HEALTHCARE

MELBOURNE - IHH Healthcare, Asia's biggest hospital operator, dropped plans to bid as much as A$5 billion (S$5.8 billion) for Australian health-care provider Healthscope, said people familiar with the matter.

IHH's interest waned as Healthscope's owners, TPG Capital and Carlyle Group, veered towards an initial public offering (IPO) that may raise as much as A$4 billion, said the people, asking not to be identified as the details are private.

The buyout firms are in talks with sovereign wealth funds and other buyers to act as so-called cornerstone investors in the share sale, which may take place as early as July, one of the people said.

TPG and Carlyle are studying sale options for Australia's second-largest private hospital operator, including an IPO or trade sale and splitting off the company's property assets to sell them separately, people familiar with the matter said last month.

The owners have not made a final decision yet on whether to pursue an IPO and could still weigh offers for the business, a source said yesterday.

A spokesman for TPG and Carlyle declined to comment, while IHH said in an e-mailed statement it does not comment on specific transactions.

IHH, 44 per cent owned by Malaysia's sovereign wealth fund Khazanah Nasional, has been expanding through acquisitions to benefit from rising demand for medical services in emerging markets.

It bought Singapore's Parkway Holdings in 2010 and completed the purchase of a 60 per cent stake in Acibadem Saglik Hizmetleri & Ticaret, Turkey's largest hospital group, in 2012, according to data compiled by Bloomberg.

IHH runs 33 hospitals as well as medical centres, clinics and other health-care businesses across nine countries including Vietnam, India and China, its website shows.

The company's shares have rallied 35 per cent since their July 2012 IPO in Kuala Lumpur.

Healthscope operates 44 hospitals including the Prince of Wales Private Hospital in Sydney and Melbourne Private Hospital, according to its website. It also runs pathology centres in Australia, New Zealand, Malaysia and Singapore.

The two US private equity firms bought Healthscope for A$2.7 billion in 2010, beating global investment firm KKR to what was then Australia's biggest buyout in eight years. Ramsay Health Care is the country's largest private hospital operator.

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#12
US hospital giant HCA enters the bidding for Healthscope
SARAH DANCKERT THE AUSTRALIAN APRIL 23, 2014 12:00AM

THE US hospital owner and ­operator HCA Holdings has ­entered the battle for the $4 billion hospital group Healthscope, being sold by private equity firms TPG and The Carlyle Group.

HCA will join a host of bidders — including Malaysia’s IHH and Chinese group Fosun — seeking all or part of the Melbourne-based hospital owner and operator. The sale process is expected to be completed next month.

New York-listed HCA or Hospital Corporation of America has appointed Deutsche Bank to assist with its bid for the entire Healthscope business.

The $23bn company owns and operates about 165 hospitals and 115 freestanding surgery centres in the US and England and is considered the largest hospital operator in the world.

HCA’s interest comes as TPG and Carlyle, which bought into Healthscope in 2010 for $2.7bn, consider a range of options to exit the business that is made up of an operating entity and a portfolio of hospitals and healthcare clinics valued at $1.2bn.

Options include the sale of the entire business, a public listing, a float of the property portfolio or splitting the operating entity from the property portfolio and then floating the operating entity and selling off the property portfolio. Some doubt the market could absorb a float of that size.

A recapitalisation deal is also thought to be on the cards.

Sources said HCA would face stiff competition from IHH, which has brought in JPMorgan and CIMB to assist with its bid.

IHH, formerly a state-owned entity in Malaysia, is understood to be interested in the operating business of Healthscope.

IHH is understood to have considerable firepower and could readily purchase the whole of Healthscope and then later roll the property into Singapore-listed Parkway Life REIT, a property trust spun off from IHH in 2007.

Meanwhile, Chinese conglomerate Fosun has emerged as a prospective bidder for the whole of Healthscope.

Incorporated in Hong Kong, Fosun is the largest privately owned conglomerate in China and includes Fosun Pharmaceutical Group — the entity believed to be vying for Healthscope — and property company Forte.

Barclays is advising Fosun, which is also in the midst of a bidding war for US-listed Chindex International, which owns a chain of hospitals in China.

The sale process is being handled by UBS and Macquarie Capital.

Lend Lease and GPT are thought to be among the bidders for the property portfolio.
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#13
http://www.straitstimes.com/news/busines...s-20140529

IHH Healthcare sparkles with 25% jump in Q1 net earnings
Published on May 29, 2014 7:24 PM


By Dennis Chan

SINGAPORE - IHH Healthcare, which owns a chain of hospitals, has reported a 25 per cent jump in first quarter net profit to RM159.1 million (S$62.1 million).

Revenue for the three months to March 31 rose by 8 per cent to RM1.76 billion, driven by higher inpatient admissions and revenue intensity across the group's operations and the opening of Acibadem Atakent Hospital in January.

Operating earnings growth was driven by a combination of organic growth from existing operations and better operating leverage achieved from the ramping up of hospitals which were opened in 2012 such as Mount Elizabeth Novena, Acibadem Ankara and Acibadem Bodrum.

IHH's flagship Parkway Pantai registered a 14 per cent rise in revenue to RM1 billion, as well as a 23 per cent jump in operating earnings to RM258.9 million.
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#14
http://www.businesstimes.com.sg/premium/...t-20140609

PUBLISHED JUNE 09, 2014
IHH Healthcare remains focused on growing its footprint
Group is world's second largest after Hospital Corp of America
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BT 20140609 IHH9 1123055
Mount Elizabeth Novena Hospital: The Singapore hospital is the first in the IHH stable to record positive earnings before interest, taxes, depreciation and amortisation in just seven months. - FILE PHOTO
[KUALA LUMPUR] Despite being one of the largest hospital groups in the world, IHH Healthcare has an insatiable appetite for growth.
"We are focused on growth and I believe we are well-positioned for this given the dynamics in Asian economies. The rapidly ageing population and rising affluence with an exponential increase in middle income people augur well for us," managing director and chief executive officer Tan See Leng told StarBizWeek.
The healthcare group has seen strong backing from its institutional shareholders.
At its share price of RM4.18, IHH trades at a whopping 51 times historical earnings, with a market capitalisation of RM34.04 billion (S$13.3 billion).
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#15
http://www.businesstimes.com.sg/premium/...s-20140702

PUBLISHED JULY 02, 2014
IHH on track to bulk up on hospitals and beds
It plans to raise bed count to 9,000 in 3 years, 10,000 by 2018
BYANITA GABRIEL
anitag@sph.com.sg @AnitaGabrielBT
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BT 20140702 AGIHH2 1157116
'Our motivating factors are to deliver superior outcome to our patients, identify market needs and meet pent-up demand.'
- Dr Tan
IHH Healthcare, the largest private hospital operator in Asia and second largest in the world in terms of market value, is not done bulking up in terms of beds and hospitals to add under its fat belt.
In an interview with The Business Times, IHH's managing director and chief executive officer Tan See Leng picks at bed count to drive home that point.
"I don't agree that IHH is very big. There are certainly a lot of players that are bigger based on operating systems," he said.
IHH, which owns Mount Elizabeth, Gleneagles and Parkway East hospitals in Singapore and also counts Malaysia and Turkey as its home markets or "back bone" as Dr Tan puts it, plans to bump up its number of licensed beds from 6,000 now to 9,000 in three years and 10,000 by 2018.
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#16
27 November, 2015 - Broker's Report : IHH kept at 'hold' by Maybank Kim Eng with RM6.35 target
http://www.theedgemarkets.com/sg/article...635-target
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