SL’s Asiri Hospitals in JV with Indian cancer care company

SL’s Asiri Hospitals in JV with Indian cancer care company

Asiri Hospitals Group has stated that the group has formed a joint venture (JV) agreement with Cancer Treatment Services Hyderabad Ltd. in India in order to provide comprehensive state-of-the-art oncology services.
According to a Colombo Stock Exchange (CSE) filing made by the group, Asiri AOI Cancer Centre Ltd. was formed as a fully-owned subsidiary of Asiri Surgical Hospital PLC on March 17, 2017.
On September 29th, a 50% shareholding in Asiri AOI controlled by Asiri Surgical has been purchased by Cancer Treatment Services Hyderabad for a value of LKR 212.5 million, with Asiri Surgical Hospitals gaining LKR 185.5 million from the share sale.

OSL TAKE:

Such a JV is a positive move as Sri Lanka’s health care providers are looking to upgrade and provide modern medical facilities. In a country that has high demand for quality healthcare, this move may provide inspiration to interested investors.

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Article Code : VBS/AT/09102017/Z_7

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