Is Asia’s IHH now treating the most medical travellers worldwide?

 

The board of Fortis Healthcare has unanimously accepted the binding offer from IHH Healthcare, outbidding a consortium of Manipal Health Enterprises and TPG Capital.

IHH Healthcare, a Malaysian group, is the world’s second largest healthcare group and is in nine countries with 10,000 beds across 49 hospitals. In India it has seven hospitals and three medical centres in Chennai, Bangalore, Hyderabad, Kolkata and Mumbai. In Singapore, Parkway Pantai is the largest private healthcare operator with four JCI-accredited, multi-specialty tertiary hospitals: Mount Elizabeth Hospital, Mount Elizabeth Novena Hospital, Gleneagles Hospital and Parkway East Hospital. Malaysia, Parkway Pantai is the second largest private healthcare provider operating ten Pantai Hospitals, four Gleneagles Hospitals and ancillary healthcare services including Pantai Integrated Rehab and Pantai Premier Pathology.

This will be a significant expansion of IHH in India. Fortis Healthcare’s hospitals have a stronger presence in North India, complementing IHH’s existing South India focused portfolio.

Fortis Healthcare is a major integrated healthcare services provider in India, with 34 hospitals across the country with a capacity of 4,600 beds, plus diagnostic and day care clinics. It also has hospitals in Dubai, Mauritius and Sri Lanka. Globally Fortis has 45 healthcare facilities (including projects under development), 10,000 potential beds and 314 diagnostic centres.

The deal will allow Fortis to complete the purchase of RHT Health Trust, with 16 clinics and two hospitals.

IHH Healthcare has also increased its stake in Turkey's Acibadem from 60% to 90%. Acibadem, a major healthcare provider for medical tourists, has 21 hospitals and 16 clinics across Turkey, Macedonia and Bulgaria.

The two deals probably make IHH the biggest medical tourism healthcare group in the world.

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