IHH Healthcare Could Tap More Medical Tourism via Proposed Deal -- Market Talk

Dow Jones09-05

0146 GMT - IHH Healthcare proposed MYR3.92 billion acquisition of Island Hospital could strengthen its presence in Malaysia's Penang state, positioning it to gain more from the growing medical tourism sector, Public Investment Bank analyst Thye May Ting says in a note. The proposed acquisition is expected to generate over MYR200 million in synergies over five years, with MYR25 million projected in the first year, and should be earnings accretive beyond 2026, she says. However, initial estimates indicate IHH could take an around 5% earnings hit in the first years in 2025-2026, she reckons. Public IB maintains an outperform rating on IHH and with a MYR7.68 target. Shares are 0.6% higher at MYR6.43. (yingxian.wong@wsj.com)

(END) Dow Jones Newswires

September 04, 2024 21:47 ET (01:47 GMT)

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