Singapore-based healthcare provider Fortis Global Healthcare Holdings Pvt Ltd is eyeing to set up hospitals in Hambantota, Jaffna and Kandy with Lanka Hospitals Corporation Ltd (LHCL) following its part acquisition in local company last month, sources close to LHCL said.
In early March Fortis acquired 28.6% LHCL for Rs 4 billion from Distilleries Corporation of Sri Lanka (DCSL). The Business Times in January reported that LHCL is in discussions with many parties and also investors for the possibility of partnerships, joint ventures to set up hospitals within the country.
“Fortis is discussing with LHCL to set up more hospitals in the country and Hambantota and Jaffna are on the cards,” a source told the Business Times.
The Harry Jayawardena-controlled DCSL had initially offered this stake to the Bank of Ceylon (BOC) at Rs 65 per share but BOC had refused saying that the price was too high. DCSL had then sold the stake of 64.12 million shares at Rs. 62 per share to Fortis.
Super Religare Laboratory Services Ltd, the largest in South Asia, will assist in technology transfer to LHCL.
LHCL is also looking at capacity increase, while regional expansions beyond Colombo and exploring partnerships with investors are on the cards, according to the sources. “Capacity increase at the current premises is being discussed and we will add 100 more rooms, new theatres and clinics this year. LHCL will start to promote medical tourism this year as Sri Lanka is well on its way to be recognised as a medical hub,” the source added.
He said that all the revenue generators at LHCL have shown an increase during last year. “This means LHCL is eating into others’ (competitor) market share. Whilst retaining its niche clientele, LHCL was able to penetrate into both lower as well as middle income patients,” he said, adding that last year, the hospital saw its revenue increase by Rs 1 billion compared to 2009.
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