Financial Times

Asiri plans to build Rs 600m hospital in Kandy
Asiri Hospitals Group will invest Rs.600 million to put up a new hospital in Kandy by early next year and will be keenly following their backward integration strategy to build more healthcare services in and around the country.

“We have finalised the project proposals for the hospitals and have looked at a two acre land located between Peradeniya and Kandy,” Ananda Wimalasena, Managing Director, Asiri Hospitals Group said, adding that the project is billed to start early next year and will take two years to complete.

He said the company will continue to introduce new technology in medical care, while opening new diagnostic centres around the country. Last year, the group made a Rs.250 million profit and raised Rs.300 million to set off part of the bank borrowings. Recently, the IT related Softlogic Group bought 5 % of Asiri Group and was offered two board seats in the two companies under the group, Asiri Hospitals (Pvt) Ltd., and Asiri Medical Services Ltd.

Ashok Pathirage, Chairman Softlogic Group said the Asiri stake cost Rs.170 million. “I see a great potential in the healthcare sector and I am very interested in Asiri’s plans to build a hospital in Kandy,” he said. Pathirage said that he has worked with the owners of Asiri Hospitals Group before and likes the management of the healthcare company. He had paid between Rs.60 to Rs.68 to buy the 2.5 million shares.

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