Harry J set to re-enter healthcare business through Melstacorp

Business tycoon Harry Jayawardena-controlled diversified conglomerate Melstacorp PLC yesterday announced its entry into Sri Lanka’s healthcare sector.

The company said it incorporated a holding company namely Melsta Health (Pvt) Ltd., through which investments in health related fields would be made.

“This would involve management of hospitals, operating diagnostics centres and involvement in related healthcare institutions as and when the opportunity arises,” Melstacorp said in a stock exchange filing.

“The initial initiative would involve in setting up the diagnostic infrastructure and the management of selected hospitals,” it added.

Melstacorp said further disclosures in this regard would be made to the Colombo Stock Exchange as and when the plans are finalized.

Melstacorp owns a distillery and has interests in plantations, telecommunications and financial services. 

With the reversal of ownership in Sri Lanka Insurance Corporation due to public interest litigation almost 10 years ago, Jayawardena had to give up his grand plans for Apollo Hospitals (now Lanka Hospitals PLC), which he acquired from Indian investors.