IHH Healthcare Berhad has entered into a conditional share sale agreement to dispose of the entire share of IMU Health Sdn Bhd to Inbound Education Holdings and the entire share in IMU Hospital to ColumbiaAsia for cash consideration of RM1.34 billion.
This is in conjunction with a hospital that is still under construction together with the assets and liabilities relating to the facility will be disposed of to Columbia Asia as part of the Proposed Facility Disposal.
IMUH was incorporated in Malaysia as a private limited company and owns the entire issued share capital of IMU Education, IMC Education Sdn. Bhd and IMU Healthcare Sdn. Bhd while IMU Healthcare owns a 60% interest in IMU Dialysis Sdn. Bhd.
As at 30 April 2022, the issued share capital of IMUH is RM 230,177,8652 comprising 1,140,032 ordinary shares and 50
redeemable preference shares.
Based on the latest audited financial statements of IMUH for the financial year ended 31 December 2021, IMUH registered a consolidated profit after tax and minority interest of RM 54,522,000 while the consolidated net assets of IMUH at RM 376,938,000. IMU Education operates a university offering preuniversity, undergraduate, and post-graduate programmes and currently houses clinics that offer medical, dental, chiropractic, and Chinese medicine services. IMU Education owns 1 main campus in Bukit Jalil, operates 4 clinical campuses and 6 clinics, and is currently carrying out
construction of the Facility in Bukit Jalil.
IHH’s original cost of investment in IMU Group is RM 308,668,311 which was incurred in 2010 and 2011. The group said the proposed disposals are in line with its strategy of divesting its non-core assets and recycling capital by deploying the proceeds to grow its core healthcare delivery services business.
