Sri Lankan conglomerate Melstacorp Plc to enter into the healthcare industry by setting up diagnostic infrastructure
Melstacorp Plc of Sri Lanka has reportedly stated it was entering the healthcare industry by initially setting up diagnostic infrastructure and managing select hospitals.
Melstacorp Plc is also the parent company of listed liquor producer Distilleries Company.
“The company will be entering the healthcare industry shortly through subsidiaries incorporated to undertake such activities,” the Group has reportedly said in a stock exchange filing this week.
Accordingly, the group has incorporated Melsta Health Private Limited for the purpose.
“This would involve management of hospitals, operating diagnostic centres and involvement in related healthcare institutions as and when the opportunity arises,” the filing has said.
However, reports state that the investment was not disclosed as Melstacorp has noted that the investment did not amount to a major transaction.
Melstacorp is also engaged in other businesses ranging from insurance, plantations, financial services and telecommunications.
The expansion of Melstacorp into the healthcare sector is indicative of the many areas in need of investments in Sri Lanka’s health sector. The country’s healthcare sector is in the process of developing its diagnostic as well as treatment facilities. Foreign healthcare businesses could explore business opportunities in Sri Lanka’s healthcare sector.
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