Top conglomerates eye Lanka Hospital stake to expand healthcare business

7 December 2015 02:57 am - 0     - {{hitsCtrl.values.hits}}

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By Shabiya Ali Ahlam
Two of Sri Lanka’s leading diversified conglomerates have shown interest in acquiring shares of state-controlled Lanka Hospitals Corporations PLC (PLC), which will be up for sale in the near future.

With the government having announced it would either partially or fully exit from non-strategic investments, including Lanka Hospitals Corporations, Hemas Holdings PLC and Softlogic Holdings PLC have expressed their interest to expand their presence in the local healthcare space. 

While Hemas Holdings made its announcement through a filing to the Colombo Stock Exchange (CSE) on Friday (4th), Softlogic Holdings is yet to formally establish its stance on a possible purchase of shares.

Pointing out that the group has been on the lookout for opportunities in the sectors it operates in, Hemas Holdings stated: “We noted the interest expressed by the government in disposing of shares in ventures such as Lanka Hospitals Corporation PLC. We have therefore, expressed our interest in pursuing this opportunity once the government initiates the official process.”

Hemas currently runs three hospitals in Wattala, Thalawathugoda and Galle and had purchased land for a fourth in Ratmalana. Meanwhile, our sister paper Sunday Times quoting an unnamed Sofltogic source said, Softlogic group had already expressed its intent in capitalizing on such an opportunity. 

Softlogic controls three of Sri Lanka’s leading hospitals, Asiri Hospital Holdings, Asiri Surgical, and The Central Hospital, and is Sri Lanka’s largest listed private hospital group in terms of revenue and profit. Lanka Hospitals was commissioned in 2002 under the brand name ‘Apollo’, of Apollo Hospitals chain, India. It was later rebranded to Lanka Hospitals Corporation after a change in ownership and is considered one of the finest healthcare facilities in 
the country.
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